Lundin Gold (TSE:LUG) Price Target Cut to C$131.00 by Analysts at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce cut Lundin Gold’s price target from C$137.00 to C$131.00, still implying 44.04% upside from the prior close.
• Analyst sentiment remains positive, with MarketBeat reporting a consensus “Buy” rating and average price target of C$101.33, despite recent target reductions from several firms.
• Lundin Gold reported C$1.19 in quarterly EPS and C$678.70 million in revenue, while shares recently traded at C$90.95; the company operates the Fruta del Norte gold mine in Ecuador.

Lundin Gold (TSE:LUG - Get Free Report) had its price target dropped by research analysts at Canadian Imperial Bank of Commerce from C$137.00 to C$131.00 in a research note issued to investors on Monday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price target indicates a potential upside of 44.04% from the stock's previous close.

A number of other equities analysts also recently weighed in on LUG. Jefferies Financial Group dropped their target price on Lundin Gold from C$90.00 to C$88.00 in a report on Monday, July 6th. ATB Cormark Capital Markets upgraded shares of Lundin Gold from a "sector perform" rating to an "outperform" rating and set a C$130.00 price target for the company in a report on Friday, May 8th. Finally, Desjardins lowered their price objective on shares of Lundin Gold from C$105.00 to C$100.00 and set a "buy" rating on the stock in a research report on Monday, July 27th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of C$101.33.

Lundin Gold Price Performance

Lundin Gold stock traded down C$1.08 during midday trading on Monday, reaching C$90.95. The stock had a trading volume of 228,167 shares, compared to its average volume of 635,314. The firm's fifty day simple moving average is C$80.03 and its two-hundred day simple moving average is C$96.63. Lundin Gold has a twelve month low of C$71.51 and a twelve month high of C$130.98. The firm has a market cap of C$21.99 billion, a price-to-earnings ratio of 23.62 and a beta of 1.62.

Lundin Gold (TSE:LUG - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported C$1.19 earnings per share (EPS) for the quarter. Lundin Gold had a net margin of 46.31% and a return on equity of 81.63%. The company had revenue of C$678.70 million for the quarter. As a group, sell-side analysts predict that Lundin Gold will post 2.5603448 EPS for the current fiscal year.

Lundin Gold Company Profile

Lundin Gold, headquartered in Vancouver, Canada, owns the Fruta del Norte gold mine in southeast Ecuador. Fruta del Norte is among the highest-grade operating gold mines in the world. The Company's board and management team have extensive expertise and are dedicated to operating Fruta del Norte responsibly. The Company operates with transparency and in accordance with international best practices. Lundin Gold is committed to delivering value to its shareholders through operational excellence and growth, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source