BMO Capital Markets Raises Lundin Mining (TSE:LUN) Price Target to C$19.50

Lundin Mining (TSE:LUN) had its target price upped by BMO Capital Markets from C$16.50 to C$19.50 in a research note published on Tuesday, BayStreet.CA reports. They currently have an outperform rating on the mining company’s stock.

Several other brokerages have also recently issued reports on LUN. Deutsche Bank Aktiengesellschaft cut Lundin Mining from a buy rating to a hold rating in a research note on Tuesday, April 9th. Bank of America increased their price objective on shares of Lundin Mining from C$12.50 to C$18.50 in a research note on Tuesday, April 9th. Pi Financial restated a buy rating on shares of Lundin Mining in a research report on Friday, March 1st. Royal Bank of Canada upped their price target on shares of Lundin Mining from C$13.00 to C$17.00 and gave the company a sector perform rating in a report on Friday, May 3rd. Finally, Canaccord Genuity Group lifted their price objective on Lundin Mining from C$16.50 to C$17.50 and gave the company a hold rating in a research note on Monday, May 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of C$15.82.

Lundin Mining Stock Performance

Shares of LUN stock opened at C$16.23 on Tuesday. The business’s fifty day simple moving average is C$15.28 and its 200-day simple moving average is C$12.12. Lundin Mining has a 12-month low of C$8.18 and a 12-month high of C$17.97. The company has a market cap of C$12.59 billion, a PE ratio of 85.42, a PEG ratio of -0.26 and a beta of 1.82. The company has a current ratio of 1.57, a quick ratio of 0.90 and a debt-to-equity ratio of 25.05.

Lundin Mining (TSE:LUN) last posted its quarterly earnings results on Wednesday, May 1st. The mining company reported C$0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.10 by C($0.02). Lundin Mining had a return on equity of 3.49% and a net margin of 3.04%. The company had revenue of C$1.26 billion during the quarter, compared to analysts’ expectations of C$1.27 billion. Analysts expect that Lundin Mining will post 0.7934045 earnings per share for the current fiscal year.

Lundin Mining Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Friday, May 31st will be given a dividend of $0.09 per share. The ex-dividend date is Friday, May 31st. This represents a $0.36 dividend on an annualized basis and a yield of 2.22%. Lundin Mining’s payout ratio is presently 189.47%.

Insider Activity at Lundin Mining

In other news, Senior Officer Annie Laurenson sold 5,200 shares of the company’s 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 value of C$69,160.00. In related news, Senior Officer Annie Laurenson sold 5,200 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$13.30, for a total value of C$69,160.00. Also, Senior Officer Teitur Nolsoe Poulsen sold 8,834 shares of Lundin Mining stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of C$17.64, for a total transaction of C$155,831.76. In the last quarter, insiders sold 26,534 shares of company stock valued at $439,992. Corporate insiders own 15.70% of the company’s stock.

Lundin Mining Company Profile

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.