Lundin Gold (TSE:LUG) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Lundin Gold (TSE:LUG) had its price objective boosted by BMO Capital Markets from C$104.00 to C$108.00 in a note issued to investors on Monday,BayStreet.CA reports. BMO Capital Markets’ target price would indicate a potential downside of 0.72% from the stock’s current price.

LUG has been the subject of several other research reports. Raymond James Financial increased their price target on shares of Lundin Gold from C$65.00 to C$80.00 in a research report on Friday, October 10th. Canaccord Genuity Group boosted their target price on Lundin Gold from C$60.00 to C$78.00 in a research note on Thursday, October 2nd. CIBC boosted their price objective on Lundin Gold from C$85.00 to C$116.00 in a research note on Friday, October 10th. JPMorgan Chase & Co. lifted their target price on shares of Lundin Gold from C$16.00 to C$28.00 in a research note on Friday, October 10th. Finally, Jefferies Financial Group lifted their price objective on shares of Lundin Gold from C$82.00 to C$97.00 in a research note on Friday, October 17th. Ten analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Lundin Gold currently has an average rating of “Reduce” and a consensus target price of C$73.21.

Lundin Gold Stock Up 6.9%

Lundin Gold stock traded up C$7.05 during mid-day trading on Monday, reaching C$108.78. 906,969 shares of the company’s stock were exchanged, compared to its average volume of 812,649. The business’s fifty day simple moving average is C$93.70 and its 200 day simple moving average is C$77.25. Lundin Gold has a one year low of C$29.42 and a one year high of C$116.20. The firm has a market capitalization of C$26.26 billion, a PE ratio of 42.83 and a beta of 1.35.

Insider Activity at Lundin Gold

In related news, insider Sheila Margaret Colman sold 14,600 shares of the firm’s stock in a transaction that occurred 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 sale, the insider directly owned 37,068 shares of the company’s stock, valued at C$3,020,671.32. This trade represents a 28.26% decrease in their ownership of the stock. Also, insider Chester See sold 20,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 132,571 shares of the company’s stock, valued at approximately C$11,043,164.30. This represents a 13.11% decrease in their position. 58.72% of the stock is currently 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.