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

Lundin Gold (TSE:LUG) had its target price raised by investment analysts at Royal Bank of Canada from C$37.00 to C$42.00 in a research note issued on Friday,BayStreet.CA reports. Royal Bank of Canada’s price objective would indicate a potential upside of 0.29% from the company’s current price.

Several other research analysts also recently commented on LUG. Scotiabank increased their price objective on shares of Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. Cibc World Mkts downgraded Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. BMO Capital Markets downgraded shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. Desjardins lifted their price objective on shares of Lundin Gold from C$38.00 to C$42.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, TD Securities boosted 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 report on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Lundin Gold presently has an average rating of “Hold” and a consensus price target of C$38.18.

Lundin Gold Price Performance

Shares of TSE LUG traded down C$3.48 during mid-day trading on Friday, reaching C$41.88. The company’s stock had a trading volume of 373,023 shares, compared to its average volume of 411,984. Lundin Gold has a 52 week low of C$18.08 and a 52 week high of C$45.82. The stock has a fifty day moving average of C$40.43 and a two-hundred day moving average of C$35.05. The firm has a market capitalization of C$7.15 billion, a PE ratio of 23.51 and a beta of 1.23.

Insider Buying and Selling at Lundin Gold

In related news, Senior Officer Sheila Margaret Colman sold 9,900 shares of Lundin Gold stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of C$41.74, for a total transaction of C$413,226.00. Also, Senior Officer Chester See sold 5,800 shares of the firm’s 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 transaction of C$237,321.50. Over the last quarter, insiders sold 144,685 shares of company stock valued at $5,854,985. Corporate 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.