National Bank Financial Upgrades Lundin Gold (TSE:LUG) to Outperform

National Bank Financial upgraded shares of Lundin Gold (TSE:LUG) from a sector perform rating to an outperform rating in a report published on Thursday morning, BayStreet.CA reports. National Bank Financial currently has C$14.75 target price on the stock, up from their prior target price of C$14.25.

A number of other brokerages have also commented on LUG. Haywood Securities raised Lundin Gold from a hold rating to a buy rating and lifted their price target for the company from C$11.50 to C$14.50 in a research note on Thursday, July 9th. CIBC raised their price objective on Lundin Gold from C$14.00 to C$15.00 in a research report on Tuesday, July 7th. Finally, Eight Capital raised their price objective on Lundin Gold from C$13.50 to C$14.75 in a research report on Monday, July 20th.

Shares of LUG stock opened at C$11.90 on Thursday. The business’s 50-day moving average price is C$11.47 and its 200-day moving average price is C$11.04. Lundin Gold has a 12 month low of C$5.82 and a 12 month high of C$13.49. The firm has a market capitalization of $2.74 billion and a price-to-earnings ratio of -17.30. The company has a current ratio of 0.96, a quick ratio of 0.56 and a debt-to-equity ratio of 139.38.

In other Lundin Gold news, insider Lorito Holdings S.à.r.l. bought 200,000 shares of the stock in a transaction on Friday, September 11th. The stock was acquired at an average cost of C$11.31 per share, for a total transaction of C$2,262,720.00. Following the completion of the acquisition, the insider now owns 4,396,357 shares in the company, valued at approximately C$49,738,624.56.

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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