Royal Bank of Canada Boosts Lundin Gold (TSE:LUG) Price Target to C$35.00

Lundin Gold (TSE:LUG - Get Free Report) had its target price increased by stock analysts at Royal Bank of Canada from C$31.00 to C$35.00 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Royal Bank of Canada's target price suggests a potential downside of 6.19% from the company's current price.

LUG has been the topic of several other reports. Desjardins raised shares of Lundin Gold to a "moderate buy" rating in a research note on Thursday, October 31st. BMO Capital Markets cut shares of Lundin Gold from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 10th. TD Securities increased their price objective on shares of Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. CIBC increased their price objective on shares of Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. Finally, Canaccord Genuity Group lowered shares of Lundin Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$34.45.

Lundin Gold Trading Down 2.0 %

Shares of LUG traded down C$0.75 during mid-day trading on Tuesday, hitting C$37.31. 570,192 shares of the company traded hands, compared to its average volume of 323,626. Lundin Gold has a one year low of C$14.94 and a one year high of C$41.28. The business has a 50-day moving average of C$34.04 and a 200 day moving average of C$31.20. The stock has a market capitalization of C$6.37 billion, a price-to-earnings ratio of 20.94 and a beta of 1.23.

Insiders Place Their Bets

In related news, Director Pablo Mir sold 11,535 shares of the firm's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total transaction of C$355,001.16. Company 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.