Lundin Gold (TSE:LUG) Stock Price Expected to Rise, Desjardins Analyst Says

Lundin Gold (TSE:LUG) had its price target increased by equities research analysts at Desjardins from C$38.00 to C$42.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price objective points to a potential upside of 12.57% from the stock’s current price.

Several other analysts also recently issued reports on LUG. Royal Bank of Canada upped their price target on Lundin Gold from C$31.00 to C$35.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Cormark upgraded Lundin Gold from a “market perform” rating to a “buy” rating and increased their price target for the company from C$35.00 to C$38.00 in a report on Friday, January 10th. 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. Canaccord Genuity Group lowered shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, TD Securities lifted their target price on shares of Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$34.45.

Lundin Gold Trading Down 2.0 %

Lundin Gold stock opened at C$37.31 on Thursday. The company has a market capitalization of C$6.37 billion, a P/E ratio of 20.94 and a beta of 1.23. Lundin Gold has a 1-year low of C$14.94 and a 1-year high of C$41.28. The firm’s fifty day simple moving average is C$34.04 and its 200-day simple moving average is C$31.20.

Insider Activity at Lundin Gold

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total transaction of C$355,001.16. 58.72% of the stock is owned by 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.