Lundin Gold (TSE:LUG) Price Target Raised to C$42.00

Lundin Gold (TSE:LUG - Get Free Report) had its target price increased by equities research analysts at Royal Bank of Canada from C$37.00 to C$42.00 in a report issued on Friday,BayStreet.CA reports. Royal Bank of Canada's price objective points to a potential downside of 8.40% from the company's previous close.

Other equities research analysts have also recently issued research reports about the company. CIBC cut Lundin Gold from an "outperform" rating to a "neutral" rating and raised their price objective for the stock from C$41.00 to C$44.00 in a report on Thursday, March 20th. Scotiabank raised their price target on Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Cibc World Mkts downgraded shares of Lundin Gold from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 20th. Jefferies Financial Group cut shares of Lundin Gold from a "buy" rating to a "hold" rating and decreased their target price for the stock from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Finally, Desjardins boosted their target price on shares of Lundin Gold from C$38.00 to C$42.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of C$38.18.

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Lundin Gold Stock Up 6.1 %

Shares of LUG traded up C$2.62 on Friday, hitting C$45.85. 585,354 shares of the stock traded hands, compared to its average volume of 422,725. Lundin Gold has a 1 year low of C$18.08 and a 1 year high of C$46.44. The stock's 50 day moving average is C$41.07 and its two-hundred day moving average is C$35.47. The firm has a market capitalization of C$7.83 billion, a P/E ratio of 25.74 and a beta of 1.23.

Insider Activity

In related news, Director Ian Gibbs sold 14,200 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of C$41.40, for a total transaction of C$587,880.00. Also, Senior Officer Sheila Margaret Colman sold 9,900 shares of Lundin Gold stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of C$41.74, for a total transaction of C$413,226.00. Over the last quarter, insiders sold 133,150 shares of company stock worth $5,499,984. 58.72% of the stock is currently owned by corporate 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.