Jefferies downgraded Lundin Gold (LUGDF) to Hold from Buy with a price target of C$36, down from C$37, after the company issued three-year production guidance that the firm says was “broadly inline” but calls for higher costs than previously expected. While an initial resource estimate for Bonza Sur expected by mid-2025 could be a catalyst, the firm says it already considers exploration upside in the “premium multiples” it applies to its estimates.
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Read More on LUGDF:
- Lundin Gold price target lowered to C$30 from C$31.50 at Scotiabank
- Lundin Gold downgraded to Market Perform from Outperform at BMO Capital
- Lundin Gold’s 2025 Outlook: Production and Exploration Growth
- Lundin Gold Announces Major Expansion at Bonza Sur
- Lundin Gold price target raised to C$41 from C$34 at CIBC