TD Securities Raises Lundin Mining (TSE:LUN) Price Target to C$9.50
Lundin Mining (TSE:LUN) had its target price upped by TD Securities from C$9.00 to C$9.50 in a report released on Tuesday, BayStreet.CA reports. The brokerage currently has a buy rating on the mining company’s stock.
Other research analysts also recently issued reports about the company. National Bank Financial downgraded Detour Gold to a hold rating in a research note on Friday, June 28th. BMO Capital Markets started coverage on Encompass Health in a research note on Thursday, June 27th. They issued an outperform rating and a $72.00 price objective for the company. Eight Capital reduced their price objective on Yamana Gold from C$4.75 to C$4.50 in a research note on Tuesday, April 16th. Morgan Stanley set a $196.00 price objective on Alibaba Group and gave the company a buy rating in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada started coverage on Robert Half International in a research note on Tuesday, April 16th. They issued a sector perform rating for the company. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of C$9.24.
TSE LUN opened at C$7.11 on Tuesday. The company has a fifty day moving average price of C$6.67. Lundin Mining has a one year low of C$4.70 and a one year high of C$7.96. The company has a current ratio of 3.03, a quick ratio of 2.42 and a debt-to-equity ratio of 1.79. The firm has a market cap of $5.16 billion and a P/E ratio of 31.32.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Friday, May 31st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Thursday, May 30th. Lundin Mining’s dividend payout ratio (DPR) is presently 52.86%.
In other Lundin Mining news, Senior Officer Marie Inkster sold 134,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of C$7.35, for a total value of C$984,900.00. Following the completion of the sale, the insider now directly owns 244,760 shares of the company’s stock, valued at approximately C$1,798,986.
About Lundin Mining
Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, the United States, Portugal, and Sweden. It primarily produces copper, zinc, and nickel, as well as gold, lead, silver, and other metals. The company holds 100% interests in the Eagle mine located in the United States; the Neves-Corvo mine located in Portugal; and the Zinkgruvan mine located in Sweden, as well as 80% interest in the Candelaria and Ojos del Salado mining complex located in Chile; and 24% interest in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland.
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