Lundin Mining (TSE:LUN) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Lundin Mining Co. (TSE:LUN) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$33.67 and traded as high as C$42.09. Lundin Mining shares last traded at C$41.18, with a volume of 4,928,367 shares.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LUN shares. BMO Capital Markets raised their price objective on shares of Lundin Mining from C$36.00 to C$45.00 in a report on Wednesday, April 22nd. TD Securities raised their price objective on shares of Lundin Mining from C$42.00 to C$45.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. JPMorgan Chase & Co. lowered shares of Lundin Mining from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from C$32.90 to C$28.20 in a report on Monday, March 9th. Barclays set a C$42.00 price objective on shares of Lundin Mining and gave the stock an “equal weight” rating in a report on Friday, May 22nd. Finally, Citigroup lifted their price target on shares of Lundin Mining from C$32.00 to C$41.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$38.49.

Lundin Mining Price Performance

The company has a debt-to-equity ratio of 5.55, a quick ratio of 0.90 and a current ratio of 1.81. The business’s 50 day simple moving average is C$36.90 and its 200-day simple moving average is C$33.67. The stock has a market capitalization of C$35.23 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of -0.26 and a beta of 2.25.

Lundin Mining (TSE:LUN) last posted its earnings results on Wednesday, May 6th. The mining company reported C$0.43 earnings per share (EPS) for the quarter. Lundin Mining had a net margin of 35.92% and a return on equity of 23.11%. The firm had revenue of C$1.61 billion during the quarter.

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.