Jefferies Financial Group Forecasts Strong Price Appreciation for Lundin Gold (TSE:LUG) Stock

Lundin Gold (TSE:LUG) had its target price raised by equities researchers at Jefferies Financial Group from C$36.00 to C$45.00 in a note issued to investors on Friday,BayStreet.CA reports. Jefferies Financial Group’s price target suggests a potential upside of 7.45% from the stock’s previous close.

Several other equities research analysts also recently commented on the company. Desjardins increased their price objective on Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a report on Thursday, February 13th. TD Securities upped their target price on Lundin Gold from C$40.00 to C$46.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. BMO Capital Markets downgraded shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Cormark lowered shares of Lundin Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Cibc World Mkts cut Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Eight investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$38.18.

Lundin Gold Stock Down 7.7 %

TSE LUG traded down C$3.48 during trading on Friday, reaching C$41.88. 373,023 shares of the stock traded hands, compared to its average volume of 411,984. The stock’s 50-day moving average price is C$40.43 and its 200 day moving average price is C$35.05. The firm has a market cap of C$7.15 billion, a price-to-earnings ratio of 23.51 and a beta of 1.23. Lundin Gold has a fifty-two week low of C$18.08 and a fifty-two week high of C$45.82.

Insiders Place Their Bets

In other Lundin Gold 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 value of C$587,880.00. Also, Director Pablo Mir sold 11,535 shares of the company’s 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. In the last 90 days, insiders sold 144,685 shares of company stock worth $5,854,985. 58.72% of the stock is currently 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.