Lundin Gold (TSE:LUG) Cut to "Strong Sell" at Veritas

Lundin Gold (TSE:LUG - Get Free Report) was downgraded by stock analysts at Veritas from a "strong-buy" rating to a "strong sell" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

LUG has been the subject of several other reports. TD Securities lifted their price objective on Lundin Gold from C$58.00 to C$65.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Desjardins raised their price target on Lundin Gold from C$38.00 to C$42.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Cibc World Mkts lowered shares of Lundin Gold from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 20th. Jefferies Financial Group increased their price objective on shares of Lundin Gold from C$36.00 to C$45.00 in a research note on Friday, April 4th. Finally, National Bankshares lifted their target price on shares of Lundin Gold from C$66.50 to C$67.75 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lundin Gold presently has a consensus rating of "Hold" and a consensus target price of C$48.98.

Lundin Gold Trading Up 7.5%

Shares of LUG traded up C$5.14 during trading hours on Monday, reaching C$73.73. The company had a trading volume of 500,832 shares, compared to its average volume of 633,286. Lundin Gold has a 12-month low of C$18.48 and a 12-month high of C$74.91. The firm has a 50 day simple moving average of C$58.67 and a 200-day simple moving average of C$44.36. The company has a market capitalization of C$12.59 billion, a price-to-earnings ratio of 41.39 and a beta of 1.23.

Insider Activity

In other news, Director Pablo Mir sold 8,000 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of C$57.50, for a total transaction of C$460,000.00. Also, Senior Officer Terrence Smith sold 40,656 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of C$64.06, for a total transaction of C$2,604,423.36. Insiders sold a total of 63,656 shares of company stock worth $4,060,974 over the last 90 days. 58.72% of the stock is currently owned by company insiders.

Lundin Gold Company Profile

Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador.