Royal Bank Of Canada Has Lowered Expectations for Lumine Group (CVE:LMN) Stock Price

Key Points

• Royal Bank of Canada cut its price objective on Lumine Group from C$42.00 to C$35.00, which still implies about an 84.79% upside from the stock's recent price.
• TD Securities and Desjardins raised targets to C$39.00 and maintain "buy" ratings; MarketBeat shows a consensus Buy with an average target of C$36.67.
• Lumine shares traded down to C$18.94 on Wednesday on heavy volume (480,797 shares), with a market cap of C$4.86 billion and a 52‑week range of C$17.77–C$55.00.

Lumine Group (CVE:LMN - Get Free Report) had its price objective cut by research analysts at Royal Bank Of Canada from C$42.00 to C$35.00 in a report released on Wednesday,BayStreet.CA reports. Royal Bank Of Canada's price objective would suggest a potential upside of 84.79% from the stock's current price.

A number of other equities analysts have also recently commented on the company. TD Securities raised their target price on Lumine Group from C$36.00 to C$39.00 and gave the company a "buy" rating in a report on Thursday, March 5th. Desjardins increased their price target on shares of Lumine Group from C$36.00 to C$39.00 and gave the stock a "buy" rating in a research report on Friday, March 6th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Lumine Group has a consensus rating of "Buy" and an average target price of C$36.67.

Lumine Group Stock Performance

Shares of CVE LMN traded down C$1.44 during trading on Wednesday, reaching C$18.94. The stock had a trading volume of 480,797 shares, compared to its average volume of 218,522. The stock has a market capitalization of C$4.86 billion, a P/E ratio of 41.17 and a beta of 0.70. Lumine Group has a fifty-two week low of C$17.77 and a fifty-two week high of C$55.00. The stock has a 50-day moving average price of C$22.54.

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