Lundin Gold initiated at ‘Buy' by UBS on Fruta del Norte strength

Lundin Gold (TSX:LUG) has been given a ‘Buy' rating and C$103 price target by Bank of America in its initial coverage, with analysts highlighting the company's high-margin production profile, strong free cash flow generation and exploration upside at its flagship Fruta del Norte (FDN) mine in Ecuador. Shares of Lundin traded up more than 5% at C$91 on Friday afternoon.