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

Lundin Gold (TSE:LUG) had its price target boosted by analysts at Desjardins from C$38.00 to C$42.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ target price would indicate a potential upside of 10.94% from the stock’s current price.

Several other equities analysts also recently weighed in on LUG. Canaccord Genuity Group downgraded Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Scotiabank increased their target price on Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. TD Securities raised their target price on shares of Lundin Gold from C$27.00 to C$38.00 in a research report on Friday, October 18th. Jefferies Financial Group lowered shares of Lundin Gold from a “buy” rating to a “hold” rating and cut their price objective for the company from C$37.00 to C$36.00 in a report on Wednesday, December 11th. Finally, CIBC lifted their price target on Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$34.45.

Lundin Gold Price Performance

Shares of LUG stock traded down C$0.50 during trading hours on Thursday, reaching C$37.86. 229,256 shares of the company traded hands, compared to its average volume of 307,921. The firm has a 50-day moving average price of C$33.92 and a 200 day moving average price of C$31.10. The company has a market cap of C$6.46 billion, a P/E ratio of 21.25 and a beta of 1.23. Lundin Gold has a 12-month low of C$14.42 and a 12-month high of C$41.28.

Insider Transactions at Lundin Gold

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total value of C$355,001.16. 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.