Lundin Mining (TSE:LUN) Upgraded to Outperform by BMO Capital Markets

Lundin Mining (TSE:LUN) was upgraded by research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has a C$16.00 target price on the mining company’s stock, up from their prior target price of C$12.00. BMO Capital Markets’ price objective indicates a potential upside of 18.96% from the stock’s current price.

Several other research firms have also commented on LUN. Canaccord Genuity Group reduced their price target on shares of Lundin Mining from C$11.00 to C$10.75 in a report on Monday, January 22nd. Morgan Stanley reduced their price target on Lundin Mining from C$12.80 to C$12.60 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Eight Capital set a C$11.50 price objective on shares of Lundin Mining and gave the stock a “buy” rating in a research report on Wednesday, December 6th. JPMorgan Chase & Co. cut their price target on shares of Lundin Mining from C$8.90 to C$8.40 in a report on Friday, January 19th. Finally, CIBC dropped their target price on Lundin Mining from C$13.00 to C$12.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$12.37.

Lundin Mining Trading Up 2.4 %

Shares of LUN traded up C$0.32 during midday trading on Wednesday, hitting C$13.45. The stock had a trading volume of 1,177,822 shares, compared to its average volume of 2,064,495. Lundin Mining has a 1 year low of C$8.10 and a 1 year high of C$13.80. The company has a debt-to-equity ratio of 23.15, a current ratio of 1.48 and a quick ratio of 0.90. The stock’s 50 day moving average is C$11.43 and its 200 day moving average is C$10.33. The firm has a market cap of C$10.42 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of -0.26 and a beta of 1.81.

Lundin Mining (TSE:LUN) last announced its quarterly earnings data on Wednesday, February 21st. The mining company reported C$0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.15 by C($0.01). Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%. The firm had revenue of C$1.44 billion during the quarter, compared to the consensus estimate of C$1.39 billion. As a group, analysts forecast that Lundin Mining will post 0.8100183 EPS for the current fiscal year.

Insider Activity

In other news, Senior Officer Annie Laurenson sold 5,200 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$13.30, for a total transaction of C$69,160.00. Insiders own 16.06% of the company’s stock.

About Lundin Mining

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, Brazil, the United States, Portugal, Sweden, and Argentina. It primarily produces copper, zinc, gold, nickel, and molybdenum, as well as lead, silver, and other metals.