Lundin Gold (TSE:LUG) Price Target Raised to C$58.00

Lundin Gold (TSE:LUG) had its target price hoisted by stock analysts at TD Securities from C$46.00 to C$58.00 in a research note issued on Tuesday,BayStreet.CA reports. TD Securities’ price target would indicate a potential upside of 8.90% from the stock’s previous close.

LUG has been the subject of a number of other research reports. Jefferies Financial Group raised their target price on shares of Lundin Gold from C$36.00 to C$45.00 in a research note on Friday, April 4th. Scotiabank raised their price objective on shares of Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. CIBC downgraded Lundin Gold from an “outperform” rating to a “neutral” rating and upped their target price for the company from C$41.00 to C$44.00 in a research report on Thursday, March 20th. Desjardins lifted their price target on Lundin Gold from C$38.00 to C$42.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Cibc World Mkts lowered Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Lundin Gold presently has a consensus rating of “Moderate Buy” and an average price target of C$42.00.

Lundin Gold Stock Up 2.7 %

Shares of TSE LUG traded up C$1.40 during midday trading on Tuesday, hitting C$53.26. 448,689 shares of the company’s stock were exchanged, compared to its average volume of 432,255. The firm has a market capitalization of C$9.09 billion, a PE ratio of 29.90 and a beta of 1.23. Lundin Gold has a 12 month low of C$18.14 and a 12 month high of C$53.51. The company’s 50 day moving average price is C$42.15 and its 200 day moving average price is C$36.08.

Insiders Place Their Bets

In other Lundin Gold news, Senior Officer Sheila Margaret Colman sold 14,500 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of C$40.40, for a total value of C$585,824.65. Also, Senior Officer Chester See sold 5,800 shares of Lundin Gold stock in a transaction dated Friday, February 28th. The shares were sold at an average price of C$40.92, for a total value of C$237,321.50. Over the last 90 days, insiders sold 133,150 shares of company stock valued at $5,499,984. 58.72% of the stock is currently owned by corporate 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.