Royal Bank of Canada Issues Positive Forecast for Lundin Gold (TSE:LUG) Stock Price

Lundin Gold (TSE:LUG) had its target price hoisted by analysts at Royal Bank of Canada from C$37.00 to C$42.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s target price points to a potential upside of 0.60% from the company’s current price.

A number of other equities analysts also recently weighed in on LUG. BMO Capital Markets downgraded Lundin Gold from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 10th. TD Securities upped their price objective on shares of Lundin Gold from C$40.00 to C$46.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Cormark downgraded shares of Lundin Gold from a “moderate buy” rating to a “hold” rating in a research report on Thursday, February 20th. Scotiabank boosted their price target on shares of Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. Finally, Cibc World Mkts lowered Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Eight research 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$38.18.

Lundin Gold Trading Down 8.0 %

Shares of LUG stock opened at C$41.75 on Friday. The stock’s fifty day simple moving average is C$40.55 and its 200-day simple moving average is C$35.09. The company has a market capitalization of C$7.13 billion, a price-to-earnings ratio of 23.44 and a beta of 1.23. Lundin Gold has a 1-year low of C$18.08 and a 1-year high of C$45.82.

Insiders Place Their Bets

In other news, Senior Officer Chester See sold 5,800 shares of Lundin Gold stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of C$40.92, for a total value of C$237,321.50. Also, Director Ronald F. Hochstein sold 88,750 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of C$41.42, for a total transaction of C$3,675,732.13. Insiders sold 144,685 shares of company stock valued at $5,854,985 over the last quarter. Insiders own 58.72% of the company’s stock.

Lundin Gold Company Profile

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.