Lundin Gold (TSE:LUG) Rating Increased to Outperform at ATB Cormark Capital Markets

Key Points

• ATB Cormark upgraded Lundin Gold from “sector perform” to “outperform” and kept a C$130 price target, implying about 34% upside from the current share price.
• Other analysts have also raised their targets recently, though the overall consensus remains “Hold” with an average price target of C$100.62.
• Lundin Gold reported strong quarterly results, including C$1.57 EPS and C$788.83 million in revenue, while the stock traded at C$96.76 on Friday.

Lundin Gold (TSE:LUG - Get Free Report) was upgraded by equities research analysts at ATB Cormark Capital Markets from a "sector perform" rating to an "outperform" rating in a research report issued on Friday,BayStreet.CA reports. The firm presently has a C$130.00 price objective on the stock. ATB Cormark Capital Markets' price objective suggests a potential upside of 34.35% from the stock's current price.

Several other equities research analysts also recently commented on LUG. Scotiabank upped their price objective on shares of Lundin Gold from C$70.00 to C$90.00 in a report on Monday, January 26th. Royal Bank Of Canada boosted their price target on shares of Lundin Gold from C$91.00 to C$113.00 in a research report on Thursday, March 12th. Canadian Imperial Bank of Commerce upped their price target on shares of Lundin Gold from C$123.00 to C$141.00 in a research note on Wednesday, February 4th. BMO Capital Markets cut their price objective on shares of Lundin Gold from C$128.00 to C$119.00 in a report on Monday, February 23rd. Finally, TD Securities lifted their price objective on shares of Lundin Gold from C$95.00 to C$114.00 in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of C$100.62.

Lundin Gold Stock Performance

TSE LUG traded up C$4.36 on Friday, hitting C$96.76. 233,971 shares of the stock traded hands, compared to its average volume of 613,940. The business's fifty day moving average is C$107.71 and its two-hundred day moving average is C$109.64. Lundin Gold has a 12 month low of C$54.03 and a 12 month high of C$130.98. The firm has a market capitalization of C$23.40 billion, a price-to-earnings ratio of 29.59 and a beta of 1.57.

Lundin Gold (TSE:LUG - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported C$1.57 earnings per share (EPS) for the quarter. The firm had revenue of C$788.83 million for the quarter. Lundin Gold had a return on equity of 60.01% and a net margin of 44.42%. Analysts expect that Lundin Gold will post 2.5603448 EPS for the current fiscal year.

About Lundin Gold

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.