Royal Bank of Canada Increases Lundin Gold (TSE:LUG) Price Target to C$35.00

Lundin Gold (TSE:LUG) had its price objective lifted by Royal Bank of Canada from C$31.00 to C$35.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential downside of 8.76% from the company’s current price.

A number of other equities research analysts have also commented on the stock. Desjardins raised shares of Lundin Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Cormark upgraded Lundin Gold from a “market perform” rating to a “buy” rating and increased their price target for the stock from C$35.00 to C$38.00 in a report on Friday, January 10th. BMO Capital Markets lowered Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. CIBC upped their target price on Lundin Gold from C$34.00 to C$41.00 in a research report on Monday, December 2nd. Finally, TD Securities raised their target price on Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Six 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$33.70.

Lundin Gold Price Performance

Lundin Gold stock opened at C$38.36 on Tuesday. The stock’s 50 day moving average is C$33.92 and its 200 day moving average is C$31.10. Lundin Gold has a one year low of C$14.23 and a one year high of C$41.28. The firm has a market cap of C$9.21 billion, a P/E ratio of 29.74 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41.

Insider Transactions at Lundin Gold

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of the firm’s 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 currently owned by insiders.

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.