Stifel Nicolaus Forecasts Strong Price Appreciation for Lundin Mining (TSE:LUN) Stock

Lundin Mining (TSE:LUN) had its price objective upped by stock analysts at Stifel Nicolaus from C$26.00 to C$40.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the mining company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 12.04% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Royal Bank Of Canada increased their target price on Lundin Mining from C$23.00 to C$29.00 in a research note on Wednesday, December 10th. Canadian Imperial Bank of Commerce increased their price objective on Lundin Mining from C$30.00 to C$37.00 in a research report on Wednesday, February 4th. Scotiabank lifted their target price on Lundin Mining from C$25.00 to C$31.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. BMO Capital Markets upped their price target on shares of Lundin Mining from C$22.00 to C$25.00 in a research note on Thursday, November 6th. Finally, Citigroup lifted their price objective on shares of Lundin Mining from C$32.00 to C$41.00 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$33.54.

Lundin Mining Stock Performance

Shares of TSE:LUN traded up C$1.28 on Wednesday, hitting C$35.70. The company had a trading volume of 1,225,253 shares, compared to its average volume of 2,916,920. The stock has a market cap of C$30.50 billion, a price-to-earnings ratio of 1,190.00, a P/E/G ratio of -0.26 and a beta of 2.08. The stock has a 50 day moving average price of C$31.30 and a 200 day moving average price of C$23.69. Lundin Mining has a 1-year low of C$8.94 and a 1-year high of C$38.85. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 41.58.

Lundin Mining (TSE:LUN) last announced its quarterly earnings results on Wednesday, November 5th. The mining company reported C$0.18 EPS for the quarter. The business had revenue of C$1.40 billion for the quarter. Lundin Mining had a net margin of 6.63% and a return on equity of 5.55%.

About Lundin Mining

Lundin Mining Corp is a diversified Canadian base metals mining company with operations in Brazil Chile Portugal Sweden and the United States of America producing copper zinc gold and nickel. Its material mineral properties include Candelaria Chapada Eagle and Neves-Corvo.