Raymond James Issues Positive Forecast for Lundin Gold (TSE:LUG) Stock Price

Lundin Gold (TSE:LUG - Get Free Report) had its price objective raised by investment analysts at Raymond James from C$32.00 to C$43.00 in a research report issued on Friday,BayStreet.CA reports. Raymond James' price target suggests a potential downside of 6.22% from the company's previous close.

LUG has been the subject of a number of other research reports. Scotiabank lifted their price objective on Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. Royal Bank of Canada raised their target price on shares of Lundin Gold from C$37.00 to C$42.00 in a research note on Friday, April 4th. BMO Capital Markets downgraded Lundin Gold from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 10th. CIBC lowered shares of Lundin Gold from an "outperform" rating to a "neutral" rating and upped their price objective for the company from C$41.00 to C$44.00 in a research report on Thursday, March 20th. Finally, Jefferies Financial Group upped their target price on Lundin Gold from C$36.00 to C$45.00 in a research note on Friday, April 4th. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lundin Gold currently has an average rating of "Hold" and an average target price of C$38.18.

Lundin Gold Trading Up 6.1 %

TSE:LUG traded up C$2.62 on Friday, hitting C$45.85. 585,354 shares of the company's stock traded hands, compared to its average volume of 422,725. The firm has a 50-day moving average price of C$41.07 and a 200-day moving average price of C$35.47. The company has a market cap of C$7.83 billion, a PE ratio of 25.74 and a beta of 1.23. Lundin Gold has a 1 year low of C$18.08 and a 1 year high of C$46.44.

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Insider Activity at Lundin Gold

In other news, Senior Officer Sheila Margaret Colman sold 9,900 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of C$41.74, for a total value of C$413,226.00. Also, Director Ronald F. Hochstein sold 88,750 shares of Lundin Gold stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of C$41.42, for a total value of C$3,675,732.13. Insiders sold 133,150 shares of company stock valued at $5,499,984 in the last ninety days. Insiders own 58.72% of the company's stock.

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.