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

Lundin Gold (TSE:LUG) had its target price upped by analysts at Royal Bank of Canada from C$31.00 to C$35.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential downside of 8.76% from the stock’s previous close.

Several other brokerages have also weighed in on LUG. Desjardins raised Lundin Gold to a “moderate buy” rating in a report on Thursday, October 31st. Canaccord Genuity Group downgraded Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. TD Securities lifted their price objective on Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Jefferies Financial Group downgraded shares of Lundin Gold from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$37.00 to C$36.00 in a report on Wednesday, December 11th. Finally, BMO Capital Markets downgraded shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$33.70.

Lundin Gold Stock Down 2.1 %

LUG opened at C$38.36 on Tuesday. The company’s 50-day moving average price is C$33.92 and its two-hundred day moving average price is C$31.10. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$41.28. The stock has a market cap of C$9.21 billion, a price-to-earnings ratio of 29.74 and a beta of 1.23.

Insider Activity

In other news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total transaction of C$355,001.16. Company 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.