CIBC Raises Lundin Gold (TSE:LUG) Price Target to C$46.00

Lundin Gold (TSE:LUG) had its target price hoisted by stock analysts at CIBC from C$44.00 to C$46.00 in a research report issued on Thursday,BayStreet.CA reports. CIBC’s target price would suggest a potential downside of 20.85% from the company’s previous close.

LUG has been the subject of a number of other reports. Desjardins boosted their price target on Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Raymond James boosted their target price on shares of Lundin Gold from C$32.00 to C$43.00 in a research report on Friday, April 4th. Jefferies Financial Group increased their price target on shares of Lundin Gold from C$36.00 to C$45.00 in a research report on Friday, April 4th. TD Securities boosted their price objective on shares of Lundin Gold from C$46.00 to C$58.00 in a research report on Tuesday. Finally, Scotiabank raised their target price on Lundin Gold from C$30.00 to C$31.50 in a report on Wednesday, January 15th. Seven investment 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$42.20.

Lundin Gold Price Performance

LUG stock opened at C$58.12 on Thursday. The company has a market cap of C$9.92 billion, a P/E ratio of 32.62 and a beta of 1.23. Lundin Gold has a 1 year low of C$18.14 and a 1 year high of C$58.41. The stock’s fifty day moving average price is C$43.11 and its 200-day moving average price is C$36.54.

Insider Activity

In other Lundin Gold news, Senior Officer Sheila Margaret Colman sold 9,900 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of C$41.74, for a total transaction of C$413,226.00. Also, Director Ronald F. Hochstein sold 88,750 shares of the firm’s stock in a transaction dated 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. Insiders have sold 133,150 shares of company stock worth $5,499,984 over the last ninety days. Corporate insiders own 58.72% of the company’s stock.

About Lundin Gold

Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador.