Lundin Mining (TSE:LUN) Given New C$9.00 Price Target at National Bank Financial

Lundin Mining (TSE:LUN) had its target price trimmed by National Bank Financial from C$10.00 to C$9.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. The firm currently has an outperform rating on the mining company’s stock. National Bank Financial also issued estimates for Lundin Mining’s FY2019 earnings at $0.26 EPS and FY2020 earnings at $0.55 EPS.

Several other analysts have also issued reports on LUN. Royal Bank of Canada upped their target price on shares of Lundin Mining from C$8.00 to C$9.00 and gave the stock an outperform rating in a research note on Tuesday, April 16th. TD Securities reduced their target price on shares of Lundin Mining from C$9.50 to C$9.00 in a research note on Monday, July 22nd. Raymond James reiterated a market perform rating and issued a C$9.00 target price on shares of Lundin Mining in a research note on Friday, July 26th. Cormark upped their target price on shares of Lundin Mining from C$10.00 to C$10.50 in a research note on Tuesday, July 23rd. Finally, CSFB reduced their target price on shares of Lundin Mining from C$9.00 to C$8.25 and set a neutral rating for the company in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of C$9.03.

TSE LUN opened at C$5.94 on Monday. Lundin Mining has a 1 year low of C$4.70 and a 1 year high of C$7.96. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.49 and a quick ratio of 1.95. The firm has a market cap of $4.36 billion and a price-to-earnings ratio of 54.50. The company has a fifty day moving average price of C$6.68 and a 200-day moving average price of C$6.61.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Friday, September 6th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.12 annualized dividend and a yield of 2.02%. Lundin Mining’s payout ratio is currently 82.88%.

In related news, insider Nemesia S.a.r.l. purchased 150,000 shares of Lundin Mining stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of C$5.94 per share, for a total transaction of C$890,790.00. Following the completion of the transaction, the insider now owns 93,822,698 shares in the company, valued at 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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