Desjardins Forecasts Strong Price Appreciation for Lundin Gold (TSE:LUG) Stock

Lundin Gold (TSE:LUG - Get Free Report) had its price target lifted by equities researchers at Desjardins from C$38.00 to C$42.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Desjardins' price objective would suggest a potential upside of 12.57% from the stock's previous close.

Several other research firms have also issued reports on LUG. TD Securities increased their target price on shares of Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Jefferies Financial Group cut shares of Lundin Gold from a "buy" rating to a "hold" rating and lowered their target price for the company from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. Cormark upgraded shares of Lundin Gold from a "market perform" rating to a "buy" rating and lifted their price objective for the company from C$35.00 to C$38.00 in a research report on Friday, January 10th. Canaccord Genuity Group cut Lundin Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 22nd. Finally, CIBC raised their target price on shares of Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$34.45.

Lundin Gold Trading Down 2.0 %

LUG stock traded down C$0.75 during midday trading on Thursday, reaching C$37.31. 570,192 shares of the company's stock traded hands, compared to its average volume of 323,626. The stock has a market cap of C$6.37 billion, a P/E ratio of 20.94 and a beta of 1.23. The stock's 50-day moving average is C$34.04 and its 200 day moving average is C$31.31. Lundin Gold has a 52-week low of C$14.94 and a 52-week high of C$41.28.

Insider Activity at Lundin Gold

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of the firm's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total transaction of C$355,001.16. 58.72% of the stock is owned by company insiders.

About Lundin Gold

Lundin Gold Inc operates as a mining company in Canada. The company holds interests in 28 metallic mineral concessions and three construction material concessions covering an area of approximately 64,454 hectares located in Southeast Ecuador. It primary holds 100% interests in the Fruta del Norte gold project that comprising seven concessions covering an area of approximately 5,566 hectares located near the city of Loja in Ecuador.