Canadian Imperial Cuts Lundin Gold Price Target to C$131

Canadian Imperial Bank of Commerce has lowered its price target for Lundin Gold (TSE:LUG) to C$131.00 from C$137.00, according to a research note issued on Monday.

This new target indicates a potential upside of 44.04% from the stock's previous close.

Other analysts have also weighed in on Lundin Gold recently, with Jefferies Financial Group dropping its target price from C$90.00 to C$88.00 and ATB Cormark Capital Markets upgrading shares to an 'outperform' rating with a price target of C$130.00.

Lundin Gold's stock traded down C$1.08 during midday trading on Monday, reaching C$90.95, with its fifty-day simple moving average at C$80.03 and its two-hundred day simple moving average at C$96.63.