Lundin Gold (TSE:LUG) Price Target Raised to C$104.00 at BMO Capital Markets

Key Points

• BMO Capital Markets raised its price target for Lundin Gold from C$93.00 to C$104.00, indicating an 11.22% potential upside from the current stock price.
• Other analysts have mixed views on Lundin Gold, with Desjardins downgrading it to a "hold" rating while Canaccord Genuity increased their target to C$78.00.
• Insider trading activity shows significant stock sales, with insiders Chester See and Sheila Margaret Colman decreasing their ownership by 13.11% and 28.26%, respectively.

Lundin Gold (TSE:LUG - Get Free Report) had its price target increased by BMO Capital Markets from C$93.00 to C$104.00 in a report released on Thursday,BayStreet.CA reports. BMO Capital Markets' target price points to a potential upside of 11.22% from the stock's current price.

LUG has been the subject of a number of other research reports. Desjardins downgraded Lundin Gold from a "moderate buy" rating to a "hold" rating and boosted their target price for the stock from C$62.00 to C$70.00 in a research report on Thursday, July 17th. Raymond James Financial upped their price objective on Lundin Gold from C$53.00 to C$65.00 in a report on Thursday, August 21st. National Bank Financial downgraded Lundin Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, June 23rd. Canaccord Genuity Group upped their price objective on Lundin Gold from C$60.00 to C$78.00 in a report on Thursday, October 2nd. Finally, National Bankshares cut Lundin Gold from an "outperform" rating to a "sector perform" rating and boosted their target price for the company from C$67.75 to C$89.00 in a research note on Tuesday, June 24th. Eleven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Lundin Gold has an average rating of "Reduce" and an average target price of C$64.50.

Lundin Gold Stock Performance

Lundin Gold stock traded down C$3.66 on Thursday, reaching C$93.51. The company's stock had a trading volume of 730,094 shares, compared to its average volume of 767,366. The company has a market cap of C$22.57 billion, a price-to-earnings ratio of 36.81 and a beta of 1.26. The business's fifty day moving average price is C$84.23 and its 200 day moving average price is C$69.04. Lundin Gold has a twelve month low of C$29.42 and a twelve month high of C$99.18.

Insider Activity at Lundin Gold

In related news, insider Chester See sold 20,000 shares of the 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 ownership of the stock. Also, insider Sheila Margaret Colman sold 14,600 shares of the 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 transaction, 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. 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.

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