Lundin Mining (TSE:LUN) Stock Rating Raised to “Strong-Buy” at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Lundin Mining (TSE:LUN) from a hold rating to a strong-buy rating in a research report released on Thursday morning,Zacks reports.

A number of other research analysts also recently issued reports on LUN. Stifel Nicolaus boosted their price objective on Lundin Mining from C$40.00 to C$42.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Barclays raised their target price on shares of Lundin Mining from C$42.00 to C$43.00 in a research note on Thursday, July 16th. Desjardins lowered their price target on shares of Lundin Mining from C$44.00 to C$42.00 and set a “buy” rating on the stock in a report on Thursday, August 20th. National Bank Financial dropped their price target on shares of Lundin Mining from C$43.50 to C$42.50 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Finally, ATB Cormark Capital Markets reduced their price objective on shares of Lundin Mining from C$42.50 to C$41.50 and set an “outperform” rating for the company in a research note on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$39.81.

Lundin Mining Stock Performance

Lundin Mining stock traded up C$1.54 during trading on Thursday, reaching C$29.59. The company had a trading volume of 3,074,650 shares, compared to its average volume of 2,650,224. Lundin Mining has a 52 week low of C$23.66 and a 52 week high of C$45.74. The firm’s 50-day simple moving average is C$33.47 and its 200 day simple moving average is C$35.80. The firm has a market capitalization of C$25.19 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of -0.26 and a beta of 2.16. The company has a current ratio of 1.60, a quick ratio of 0.90 and a debt-to-equity ratio of 2.88.

Lundin Mining (TSE:LUN) last released its quarterly earnings results on Wednesday, November 4th. The mining company reported C$0.46 earnings per share (EPS) for the quarter. The business had revenue of C$1.58 billion during the quarter. Lundin Mining had a return on equity of 22.97% and a net margin of 35.11%.

Lundin Mining Company Profile

Lundin Mining is a Canadian mining company headquartered in Vancouver, Canada with three operating mines in Brazil and Chile. We produce metals that underpin global development, supporting infrastructure, electrification, technological innovation, and economic resilience. Our strategic vision is to become a top ten global copper producer. To get there, we are executing a clear growth strategy, which includes advancing one of the world’s largest copper, gold, and silver projects in the Vicuna District on the border of Argentina and Chile, where we hold a 50% interest.