Haywood Securities Trims Lundin Mining (TSE:LUN) Target Price to C$8.50

Lundin Mining (TSE:LUN) had its price objective lowered by Haywood Securities from C$9.50 to C$8.50 in a research note released on Monday morning, BayStreet.CA reports.

Several other equities analysts have also commented on the stock. CSFB decreased their price objective on shares of Lundin Mining from C$9.00 to C$8.25 and set a neutral rating on the stock in a report on Thursday, July 25th. CIBC dropped their target price on shares of Lundin Mining from C$9.00 to C$8.00 in a report on Friday, September 6th. Raymond James reiterated a market perform rating and issued a C$9.00 target price on shares of Lundin Mining in a report on Friday, July 26th. TD Securities cut their target price on Lundin Mining from C$9.50 to C$9.00 in a research report on Monday, July 22nd. Finally, National Bank Financial decreased their price target on Lundin Mining from C$10.00 to C$9.00 and set an outperform rating on the stock in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of C$8.79.

Shares of LUN opened at C$6.97 on Monday. The company’s 50-day moving average price is C$6.21 and its 200 day moving average price is C$6.60. Lundin Mining has a 12-month low of C$4.70 and a 12-month high of C$7.96. The company has a current ratio of 2.49, a quick ratio of 1.95 and a debt-to-equity ratio of 1.76. The firm has a market cap of $4.86 billion and a P/E ratio of 63.94.

Lundin Mining (TSE:LUN) last announced its earnings results on Wednesday, July 24th. The mining company reported C($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.07 by C($0.08). The business had revenue of C$493.94 million for the quarter. Equities research analysts forecast that Lundin Mining will post 0.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.03 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.12 dividend on an annualized basis and a yield of 1.72%. Lundin Mining’s dividend payout ratio (DPR) is presently 82.88%.

In other Lundin Mining news, insider Nemesia S.a.r.l. purchased 150,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was bought at an average price of C$5.94 per share, with a total value of C$890,790.00. Following the transaction, the insider now directly owns 93,822,698 shares of the company’s stock, valued at approximately C$557,175,474.34.

About Lundin Mining

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, the United States, Portugal, and Sweden. It primarily produces copper, zinc, and nickel, as well as gold, lead, silver, and other metals. The company holds 100% interests in the Eagle mine located in the United States; the Neves-Corvo mine located in Portugal; and the Zinkgruvan mine located in Sweden, as well as 80% interest in the Candelaria and Ojos del Salado mining complex located in Chile; and 24% interest in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland.

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Analyst Recommendations for Lundin Mining (TSE:LUN)

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