Lundin Mining Co. (TSE:LUN – Get Free Report) shot up 5.1% during mid-day trading on Wednesday . The company traded as high as C$16.02 and last traded at C$16.00. 436,885 shares were traded during mid-day trading, a decline of 81% from the average session volume of 2,264,157 shares. The stock had previously closed at C$15.23.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on LUN. Bank of America lifted their price objective on shares of Lundin Mining from C$12.50 to C$18.50 in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft downgraded shares of Lundin Mining from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Jefferies Financial Group lifted their price objective on shares of Lundin Mining from C$18.00 to C$20.00 and gave the company a “buy” rating in a report on Friday, April 12th. UBS Group lifted their price objective on shares of Lundin Mining from C$12.50 to C$18.25 in a report on Tuesday, April 9th. Finally, BMO Capital Markets upgraded shares of Lundin Mining from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from C$12.00 to C$16.00 in a report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Lundin Mining has an average rating of “Hold” and an average price target of C$13.60.
Check Out Our Latest Report on LUN
Lundin Mining Stock Performance
Lundin Mining (TSE:LUN – Get Free Report) last announced its earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.01). The business had revenue of C$1.44 billion during the quarter, compared to the consensus estimate of C$1.39 billion. Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. On average, equities research analysts expect that Lundin Mining Co. will post 0.8396226 earnings per share for the current year.
Lundin Mining Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.27%. Lundin Mining’s payout ratio is presently 85.71%.
Insider Activity
In related news, Senior Officer Annie Laurenson sold 5,200 shares of the company’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. 15.70% of the stock is currently owned by company insiders.
Lundin Mining Company Profile
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.
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