Lundin Gold (TSE:LUG) Given New C$97.00 Price Target at Jefferies Financial Group

Key Points

• Jefferies Financial Group has increased Lundin Gold's price target from C$82.00 to C$97.00, suggesting a potential downside of 9.35% from the stock's previous close.
• Other analysts have mixed views: Desjardins downgraded Lundin to a "hold" rating with a target of C$70.00, while CIBC raised their target to C$116.00.
• Lundin Gold's stock fell 1.6% on Friday, trading at C$107.00, with a market cap of C$25.82 billion and notable recent insider selling activity.

Lundin Gold (TSE:LUG - Get Free Report) had its target price boosted by Jefferies Financial Group from C$82.00 to C$97.00 in a report released on Friday,BayStreet.CA reports. Jefferies Financial Group's price target would suggest a potential downside of 9.35% from the company's previous close.

Other equities research analysts have also issued research reports about the company. Desjardins lowered Lundin Gold from a "moderate buy" rating to a "hold" rating and increased their price target for the stock from C$62.00 to C$70.00 in a research note on Thursday, July 17th. Raymond James Financial upped their price objective on Lundin Gold from C$65.00 to C$80.00 in a research note on Friday, October 10th. TD Securities cut Lundin Gold from a "strong-buy" rating to a "hold" rating and boosted their price target for the stock from C$65.00 to C$73.00 in a report on Wednesday, July 16th. National Bank Financial cut Lundin Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, June 23rd. Finally, CIBC lifted their price objective on shares of Lundin Gold from C$85.00 to C$116.00 in a research report on Friday, October 10th. Eleven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Lundin Gold currently has a consensus rating of "Reduce" and an average price target of C$72.88.

Lundin Gold Stock Down 1.6%

TSE:LUG traded down C$1.74 during trading hours on Friday, hitting C$107.00. 1,991,902 shares of the stock traded hands, compared to its average volume of 782,696. The company has a market cap of C$25.82 billion, a price-to-earnings ratio of 42.13 and a beta of 1.26. Lundin Gold has a 1 year low of C$29.42 and a 1 year high of C$109.00. The stock has a 50 day moving average price of C$87.85 and a 200 day moving average price of C$71.32.

Insider Buying and Selling

In related news, 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 transaction, the insider directly 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. Also, insider Chester See sold 20,000 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$83.30, for a total transaction of C$1,666,000.00. Following the transaction, the insider owned 132,571 shares of the company's stock, valued at C$11,043,164.30. This trade represents a 13.11% decrease in their position. 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.

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