Lundin Gold (TSE:LUG) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Lundin Gold (TSE:LUG) had its price objective boosted by Royal Bank of Canada from C$31.00 to C$35.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential downside of 13.13% from the company’s previous close.

Several other research firms have also issued reports on LUG. CIBC boosted their target price on Lundin Gold from C$34.00 to C$41.00 in a research report on Monday, December 2nd. Cormark raised shares of Lundin Gold from a “market perform” rating to a “buy” rating and lifted their target price for the stock from C$35.00 to C$38.00 in a report on Friday, January 10th. TD Securities lifted their price objective on shares of Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Scotiabank boosted their target price on shares of Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. Finally, Canaccord Genuity Group cut shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lundin Gold presently has an average rating of “Moderate Buy” and a consensus price target of C$33.70.

Lundin Gold Stock Performance

Shares of Lundin Gold stock traded down C$0.59 during midday trading on Tuesday, hitting C$40.29. The company had a trading volume of 225,561 shares, compared to its average volume of 298,472. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$41.28. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The business’s 50 day simple moving average is C$33.75 and its two-hundred day simple moving average is C$30.87. The stock has a market cap of C$9.67 billion, a PE ratio of 31.23 and a beta of 1.23.

Insider Activity

In related news, Director Pablo Mir sold 11,535 shares of the 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. 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.