Lundin Mining (TSE:LUN) PT Raised to C$16.40

Lundin Mining (TSE:LUN) had its price objective boosted by research analysts at Morgan Stanley from C$12.60 to C$16.40 in a report released on Thursday, BayStreet.CA reports. The brokerage presently has an “overweight” rating on the mining company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 18.24% from the company’s current price.

Several other analysts have also issued reports on the company. Eight Capital set a C$11.50 price objective on Lundin Mining and gave the stock a “buy” rating in a report on Wednesday, December 6th. BMO Capital Markets raised shares of Lundin Mining from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from C$12.00 to C$16.00 in a research note on Wednesday. National Bankshares decreased their price target on Lundin Mining from C$13.00 to C$12.50 and set an “outperform” rating for the company in a research note on Monday, January 15th. Stifel Nicolaus set a C$14.50 price objective on Lundin Mining and gave the company a “buy” rating in a research note on Tuesday. Finally, Veritas Investment Research reaffirmed a “sell” rating on shares of Lundin Mining in a research report on Friday, December 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Lundin Mining currently has an average rating of “Hold” and an average target price of C$12.59.

Lundin Mining Trading Up 3.5 %

Shares of TSE:LUN traded up C$0.47 during mid-day trading on Thursday, hitting C$13.87. The stock had a trading volume of 877,308 shares, compared to its average volume of 2,057,701. Lundin Mining has a 12-month low of C$8.18 and a 12-month high of C$13.88. The company has a debt-to-equity ratio of 23.15, a quick ratio of 0.90 and a current ratio of 1.48. The company has a market cap of C$10.74 billion, a PE ratio of 32.93, a P/E/G ratio of -0.26 and a beta of 1.81. The company’s 50 day moving average is C$11.49 and its 200-day moving average is C$10.35.

Lundin Mining (TSE:LUN) last released its earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.01). The business had revenue of C$1.44 billion during the quarter, compared to analysts’ expectations of C$1.39 billion. Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. On average, sell-side analysts predict that Lundin Mining will post 0.8100183 EPS for the current year.

Insider Buying and Selling

In related news, Senior Officer Annie Laurenson sold 5,200 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$13.30, for a total transaction of C$69,160.00. 16.06% of the stock is currently owned by corporate insiders.

About Lundin Mining

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, Brazil, the United States, Portugal, Sweden, and Argentina. It primarily produces copper, zinc, gold, nickel, and molybdenum, as well as lead, silver, and other metals.