Desjardins Issues Positive Forecast for Lundin Gold (TSE:LUG) Stock Price

Lundin Gold (TSE:LUG) had its price target increased by research analysts at Desjardins from C$38.00 to C$42.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price objective would suggest a potential upside of 10.94% from the stock’s current price.

Several other brokerages also recently commented on LUG. Scotiabank raised their target price on Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. CIBC upped their target price on shares of Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. Jefferies Financial Group downgraded shares of Lundin Gold from a “buy” rating to a “hold” rating and cut their price target for the company from C$37.00 to C$36.00 in a report on Wednesday, December 11th. BMO Capital Markets cut Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. Finally, TD Securities increased their price target on shares of Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$34.45.

Lundin Gold Trading Down 1.3 %

Shares of LUG stock traded down C$0.50 during trading on Thursday, reaching C$37.86. 229,256 shares of the company’s stock traded hands, compared to its average volume of 307,921. The firm’s 50-day moving average is C$33.92 and its 200 day moving average is C$31.10. Lundin Gold has a 1 year low of C$14.42 and a 1 year high of C$41.28. The company has a market capitalization of C$6.46 billion, a P/E ratio of 21.25 and a beta of 1.23.

Insider Buying and Selling at Lundin Gold

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