Royal Bank of Canada upgraded shares of Lundin Mining (TSE:LUN) from a sector perform rating to an outperform rating in a research note released on Friday morning. They currently have C$8.00 price objective on the mining company’s stock.
Several other analysts have also weighed in on LUN. Raymond James lowered their target price on shares of Lundin Mining from C$9.00 to C$8.50 and set a market perform rating for the company in a research note on Friday. Barclays reiterated an overweight rating on shares of Lundin Mining in a research note on Wednesday, October 10th. CSFB reiterated a neutral rating and set a C$10.00 target price on shares of Lundin Mining in a research note on Monday, September 10th. CIBC lowered their target price on shares of Lundin Mining from C$10.00 to C$9.00 in a research note on Friday, August 31st. Finally, National Bank Financial lowered their target price on shares of Lundin Mining from C$11.25 to C$10.00 in a research note on Saturday, July 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Lundin Mining presently has an average rating of Hold and a consensus price target of C$9.31.
Shares of TSE:LUN traded up C$0.31 during midday trading on Friday, reaching C$5.25. The company had a trading volume of 3,812,400 shares, compared to its average volume of 2,387,803. Lundin Mining has a one year low of C$4.70 and a one year high of C$10.22.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Friday, December 7th will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, December 6th. This represents a $0.12 annualized dividend and a yield of 2.29%.
In other Lundin Mining news, insider Jinhee Magie sold 20,334 shares of the business’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of C$7.07, for a total transaction of C$143,761.38. Also, insider Mikael Schauman bought 110,000 shares of the stock in a transaction on Wednesday, September 5th. The shares were acquired at an average price of C$5.01 per share, with a total value of C$551,100.00.
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% interest 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 Candelaria and Ojos del Salado mining complex; and 24% interest the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland.
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