Haywood Securities Lowers Lundin Gold (TSE:LUG) Price Target to C$9.50

Lundin Gold (TSE:LUG) had its price objective reduced by research analysts at Haywood Securities from C$12.50 to C$9.50 in a research report issued on Tuesday, BayStreet.CA reports. Haywood Securities’ target price indicates a potential upside of 8.20% from the stock’s current price.

Several other brokerages also recently weighed in on LUG. National Bank Financial reduced their price target on Lundin Gold from C$13.50 to C$13.00 and set an “outperform” rating on the stock in a report on Monday. TD Securities increased their price target on Lundin Gold from C$13.50 to C$16.00 and gave the stock a “speculative buy” rating in a report on Friday, February 21st. Finally, Scotiabank increased their price target on Lundin Gold from C$8.00 to C$8.50 in a report on Monday, February 24th.

Shares of TSE LUG opened at C$8.78 on Tuesday. The company has a debt-to-equity ratio of 188.21, a quick ratio of 1.06 and a current ratio of 1.28. The business’s 50 day moving average price is C$10.16 and its 200-day moving average price is C$8.65. Lundin Gold has a fifty-two week low of C$5.02 and a fifty-two week high of C$13.49. The company has a market cap of $1.56 billion and a price-to-earnings ratio of -16.32.

In other Lundin Gold news, Director Ian Gibbs sold 60,000 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of C$13.13, for a total transaction of C$787,620.00. Following the sale, the director now owns 92,500 shares of the company’s stock, valued at approximately C$1,214,247.50. Also, Director Ronald F. Hochstein sold 216,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of C$8.42, for a total value of C$1,818,871.20. Following the sale, the director now directly owns 285,600 shares in the company, valued at approximately C$2,404,951.92.

About Lundin Gold

Lundin Gold Inc operates as a mining company in Canada. The company holds interests in 30 mining concessions covering an area of approximately 64,406 hectares located in Southeast Ecuador. It primarily focuses on advancing the Fruta del Norte gold project that comprises 6 concessions covering an area of approximately 5,039 hectares located near the city of Loja in Ecuador.

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