Lundin Gold (TSE:LUG – Get Free Report) had its target price increased by Royal Bank of Canada from C$31.00 to C$35.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential downside of 13.13% from the company’s previous close.
Several other equities research analysts also recently weighed in on the company. Scotiabank raised their price target on Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. Jefferies Financial Group downgraded Lundin Gold from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$37.00 to C$36.00 in a report on Wednesday, December 11th. Canaccord Genuity Group downgraded Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 22nd. TD Securities raised their price target on Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Finally, Desjardins upgraded Lundin Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$33.70.
Read Our Latest Analysis on LUG
Lundin Gold Stock Down 1.4 %
Insider Buying and Selling
In other news, Director Pablo Mir sold 11,535 shares of the 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 company 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.
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