National Bankshares Forecasts Strong Price Appreciation for Lundin Gold (TSE:LUG) Stock

Lundin Gold (TSE:LUG) had its target price raised by investment analysts at National Bankshares from C$66.50 to C$67.75 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ price target suggests a potential upside of 6.47% from the stock’s current price.

A number of other research firms have also commented on LUG. Jefferies Financial Group upped their price target on Lundin Gold from C$36.00 to C$45.00 in a research report on Friday, April 4th. BMO Capital Markets upped their target price on Lundin Gold from C$45.00 to C$62.00 in a report on Friday, May 9th. Veritas raised Lundin Gold to a “strong-buy” rating in a research note on Wednesday, May 14th. Raymond James upped their price objective on shares of Lundin Gold from C$32.00 to C$43.00 in a report on Friday, April 4th. Finally, CIBC raised their target price on shares of Lundin Gold from C$44.00 to C$46.00 in a research report on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$47.89.

Lundin Gold Trading Up 3.3%

Lundin Gold stock opened at C$63.63 on Thursday. The firm has a 50-day moving average of C$52.48 and a 200-day moving average of C$41.14. The firm has a market cap of C$10.86 billion, a P/E ratio of 35.72 and a beta of 1.23. Lundin Gold has a 1-year low of C$18.48 and a 1-year high of C$67.80.

Insider Buying and Selling

In other Lundin Gold news, Director Ronald F. Hochstein sold 88,750 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was 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 company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of C$40.92, for a total transaction of C$237,321.50. Insiders sold a total of 141,150 shares of company stock worth $5,959,984 in the last three months. 58.72% of the stock is owned by corporate insiders.

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.