BMO Capital Markets Forecasts Strong Price Appreciation for Lundin Gold (TSE:LUG) Stock

Lundin Gold (TSE:LUG) had its price objective upped by analysts at BMO Capital Markets from C$104.00 to C$108.00 in a research report issued on Monday,BayStreet.CA reports. BMO Capital Markets’ target price would indicate a potential downside of 1.38% from the company’s current price.

A number of other equities research analysts also recently weighed in on LUG. JPMorgan Chase & Co. lifted their price target on shares of Lundin Gold from C$16.00 to C$28.00 in a research note on Friday, October 10th. CIBC lifted their target price on shares of Lundin Gold from C$85.00 to C$116.00 in a research report on Friday, October 10th. Jefferies Financial Group increased their price target on shares of Lundin Gold from C$82.00 to C$97.00 in a research report on Friday, October 17th. Raymond James Financial lifted their price objective on Lundin Gold from C$65.00 to C$80.00 in a report on Friday, October 10th. Finally, Desjardins lowered Lundin Gold from a “moderate buy” rating to a “hold” rating and upped their price objective for the company from C$62.00 to C$70.00 in a research note on Thursday, July 17th. Ten analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of C$73.21.

Lundin Gold Trading Up 0.7%

Shares of LUG stock opened at C$109.51 on Monday. Lundin Gold has a 12 month low of C$29.42 and a 12 month high of C$116.20. The company has a market capitalization of C$26.43 billion, a P/E ratio of 38.70 and a beta of 1.35. The stock has a 50 day moving average of C$94.61 and a two-hundred day moving average of C$77.97.

Insiders Place Their Bets

In other news, insider Chester See sold 20,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of C$83.30, for a total transaction of C$1,666,000.00. Following the sale, the insider owned 132,571 shares in the company, valued at approximately C$11,043,164.30. This represents a 13.11% decrease in their ownership of the stock. Also, insider Sheila Margaret Colman sold 14,600 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$81.49, for a total value of C$1,189,754.00. Following the completion of the sale, the insider owned 37,068 shares of the company’s stock, valued at approximately C$3,020,671.32. This trade represents a 28.26% decrease in their ownership of the stock. Company insiders own 58.72% of the company’s stock.

Lundin Gold Company Profile

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.