TD Securities Issues Positive Forecast for Lundin Gold (TSE:LUG) Stock Price

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

A number of other equities research analysts also recently weighed in on the company. Jefferies Financial Group boosted their price target on Lundin Gold from C$36.00 to C$45.00 in a research note on Friday, April 4th. Cibc World Mkts downgraded shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. Cormark raised shares of Lundin Gold from a “market perform” rating to a “buy” rating and raised their price objective for the company from C$42.00 to C$54.00 in a research note on Monday. Royal Bank of Canada boosted their target price on shares of Lundin Gold from C$37.00 to C$42.00 in a research report on Friday, April 4th. Finally, CIBC downgraded Lundin Gold from an “outperform” rating to a “neutral” rating and lifted their price target for the company from C$41.00 to C$44.00 in a research note on Thursday, March 20th. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$42.00.

Lundin Gold Stock Performance

Shares of TSE:LUG traded up C$1.40 during trading on Tuesday, reaching C$53.26. The stock had a trading volume of 448,689 shares, compared to its average volume of 432,255. Lundin Gold has a 52 week low of C$18.14 and a 52 week high of C$53.51. The firm’s fifty day moving average is C$42.15 and its 200 day moving average is C$36.08. The stock has a market cap of C$9.09 billion, a price-to-earnings ratio of 29.90 and a beta of 1.23.

Insider Buying and Selling

In other news, Director Ronald F. Hochstein sold 88,750 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of C$41.42, for a total value of C$3,675,732.13. Also, Senior Officer Chester See sold 5,800 shares of the firm’s 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. In the last 90 days, insiders sold 133,150 shares of company stock valued at $5,499,984. 58.72% of the stock is 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.