Lundin Mining (TSE:LUN) PT Raised to C$17.00 at Royal Bank of Canada

Lundin Mining (TSE:LUN) had its price objective increased by Royal Bank of Canada from C$13.00 to C$17.00 in a research note published on Friday, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the mining company’s stock.

Other analysts also recently issued research reports about the stock. Morgan Stanley lifted their price target on shares of Lundin Mining from C$16.30 to C$16.40 in a research note on Tuesday, April 23rd. BMO Capital Markets decreased their price target on shares of Lundin Mining from C$17.00 to C$16.50 in a research note on Thursday. Pi Financial reissued a buy rating on shares of Lundin Mining in a report on Friday, March 1st. Jefferies Financial Group lifted their price objective on shares of Lundin Mining from C$18.00 to C$20.00 and gave the company a buy rating in a report on Friday, April 12th. Finally, National Bankshares cut their price objective on shares of Lundin Mining from C$13.00 to C$12.50 and set an outperform rating on the stock in a report on Monday, January 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of C$15.23.

Lundin Mining Stock Performance

Lundin Mining stock opened at C$15.15 on Friday. The company has a 50 day moving average price of C$13.89 and a 200-day moving average price of C$11.40. The company has a debt-to-equity ratio of 23.15, a quick ratio of 0.90 and a current ratio of 1.48. Lundin Mining has a fifty-two week low of C$8.18 and a fifty-two week high of C$16.51. The company has a market capitalization of C$11.74 billion, a PE ratio of 36.07, a P/E/G ratio of -0.26 and a beta of 1.85.

Lundin Mining (TSE:LUN) last posted its quarterly earnings results on Wednesday, May 1st. The mining company reported C$0.08 earnings per share for the quarter, missing the consensus estimate of C$0.10 by C($0.02). Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. The company had revenue of C$1.26 billion for the quarter, compared to the consensus estimate of C$1.27 billion. As a group, equities analysts forecast that Lundin Mining will post 0.8396226 earnings per share for the current year.

Lundin Mining Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Friday, May 31st will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.38%. The ex-dividend date is Friday, May 31st. Lundin Mining’s dividend payout ratio is currently 85.71%.

Insider Activity

In other news, Senior Officer Annie Laurenson sold 5,200 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$13.30, for a total transaction of C$69,160.00. Corporate insiders own 15.70% of the company’s stock.

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.