National Bank Financial Downgrades Lundin Mining (TSE:LUN) to Sector Perform

Lundin Mining (TSE:LUN) was downgraded by analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a note issued to investors on Tuesday,BayStreet.CA reports. They presently have a C$40.00 price target on the mining company’s stock. National Bank Financial’s price target would suggest a potential upside of 18.87% from the company’s previous close.

A number of other analysts also recently weighed in on the company. The Goldman Sachs Group boosted their target price on Lundin Mining from C$23.90 to C$35.80 in a research report on Tuesday, January 13th. Stifel Nicolaus raised their price objective on shares of Lundin Mining from C$26.00 to C$40.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. cut their target price on shares of Lundin Mining from C$28.00 to C$25.40 in a research report on Wednesday, December 3rd. Jefferies Financial Group upped their target price on shares of Lundin Mining from C$32.00 to C$38.00 in a report on Monday, January 12th. Finally, Cormark upgraded shares of Lundin Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, December 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Lundin Mining currently has a consensus rating of “Moderate Buy” and a consensus target price of C$33.54.

Lundin Mining Price Performance

TSE:LUN traded down C$1.15 during trading hours on Tuesday, hitting C$33.65. 1,993,441 shares of the company’s stock traded hands, compared to its average volume of 2,958,583. Lundin Mining has a 52 week low of C$8.94 and a 52 week high of C$38.85. The business’s fifty day simple moving average is C$32.03 and its two-hundred day simple moving average is C$24.28. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 41.58. The firm has a market cap of C$28.75 billion, a P/E ratio of 1,121.67, a P/E/G ratio of -0.26 and a beta of 2.08.

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.