Lundin Mining (TSE:LUN) Price Target Cut to C$12.00 by Analysts at Morgan Stanley

Lundin Mining (TSE:LUN) had its target price cut by investment analysts at Morgan Stanley from C$14.80 to C$12.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Morgan Stanley’s target price suggests a potential upside of 20.36% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Stifel Canada upgraded shares of Lundin Mining to a “strong-buy” rating in a research note on Wednesday, March 19th. Stifel Nicolaus cut their price target on Lundin Mining from C$17.50 to C$16.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Jefferies Financial Group cut their price objective on Lundin Mining from C$20.00 to C$16.00 in a research note on Monday, January 6th. National Bankshares lifted their price target on shares of Lundin Mining from C$17.00 to C$17.50 and gave the company an “outperform” rating in a report on Wednesday, April 2nd. Finally, The Goldman Sachs Group set a C$16.60 price objective on shares of Lundin Mining and gave the stock a “buy” rating in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$16.58.

Lundin Mining Stock Performance

LUN stock traded up C$0.80 during trading on Wednesday, reaching C$9.97. The stock had a trading volume of 2,761,920 shares, compared to its average volume of 2,671,563. The firm has a market cap of C$6.09 billion, a PE ratio of 19.79, a PEG ratio of -0.26 and a beta of 1.66. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 41.58. The stock’s 50 day moving average is C$11.95 and its two-hundred day moving average is C$12.88. Lundin Mining has a 52 week low of C$8.94 and a 52 week high of C$17.97.

Insider Buying and Selling

In other Lundin Mining news, insider Nemesia S.a.r.l. bought 2,000,000 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average price of C$11.35 per share, with a total value of C$22,700,000.00. Also, Director Adam Ian Lundin bought 150,000 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The shares were acquired at an average price of C$10.82 per share, with a total value of C$1,623,000.00. 15.70% of the stock is currently owned by company insiders.

Lundin Mining Company Profile

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.