Brokers Issue Forecasts for Lundin Gold Inc’s FY2020 Earnings (TSE:LUG)

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Lundin Gold Inc (TSE:LUG) – Stock analysts at National Bank Financial dropped their FY2020 EPS estimates for Lundin Gold in a note issued to investors on Monday, November 11th. National Bank Financial analyst J. Sclodnick now forecasts that the company will post earnings per share of $0.66 for the year, down from their previous estimate of $0.67. National Bank Financial has a “Sector Perform” rating and a $9.50 price target on the stock.

A number of other analysts have also recently issued reports on LUG. BMO Capital Markets raised their price objective on Lundin Gold from C$8.50 to C$14.00 in a research report on Wednesday, September 11th. Eight Capital raised their price objective on Lundin Gold from C$6.25 to C$9.00 in a research report on Thursday, August 8th.

Shares of LUG traded up C$0.16 during mid-day trading on Wednesday, reaching C$7.30. The company’s stock had a trading volume of 121,701 shares, compared to its average volume of 129,524. Lundin Gold has a 1-year low of C$4.50 and a 1-year high of C$9.04. The stock has a market cap of $1.60 billion and a P/E ratio of -27.97. The business has a 50-day simple moving average of C$7.71 and a two-hundred day simple moving average of C$7.06. The company has a current ratio of 5.35, a quick ratio of 5.01 and a debt-to-equity ratio of 127.80.

In related news, Director Paul Mcrae sold 83,400 shares of Lundin Gold stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of C$8.54, for a total transaction of C$712,236.00. Following the completion of the sale, the director now directly owns 1,375 shares of the company’s stock, valued at approximately C$11,742.50. Also, Senior Officer Sheila Margaret Colman sold 25,000 shares of Lundin Gold stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of C$8.16, for a total value of C$204,032.50. Over the last ninety days, insiders sold 128,400 shares of company stock valued at $1,090,973.

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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