Lundin Mining (TSE:LUN) Lifted to “Outperform” at BMO Capital Markets

Lundin Mining (TSE:LUN) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage currently has a C$16.00 price target on the mining company’s stock, up from their previous price target of C$12.00. BMO Capital Markets’ price target points to a potential upside of 15.44% from the company’s previous close.

A number of other brokerages also recently commented on LUN. JPMorgan Chase & Co. reduced their price target on Lundin Mining from C$8.90 to C$8.40 in a report on Friday, January 19th. Pi Financial reissued a “buy” rating on shares of Lundin Mining in a report on Friday, March 1st. Veritas Investment Research restated a “sell” rating on shares of Lundin Mining in a research note on Friday, December 8th. Morgan Stanley cut their price objective on Lundin Mining from C$12.80 to C$12.60 and set an “outperform” rating on the stock in a research note on Wednesday, January 31st. Finally, Canaccord Genuity Group cut their price objective on Lundin Mining from C$11.00 to C$10.75 in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lundin Mining currently has an average rating of “Hold” and a consensus target price of C$12.59.

Lundin Mining Trading Up 3.4 %

Shares of LUN opened at C$13.86 on Wednesday. The company has a market capitalization of C$10.73 billion, a P/E ratio of 33.00, a P/E/G ratio of -0.26 and a beta of 1.81. Lundin Mining has a one year low of C$8.18 and a one year high of C$13.97. The company has a debt-to-equity ratio of 23.15, a quick ratio of 0.90 and a current ratio of 1.48. The stock has a 50-day moving average price of C$11.57 and a 200 day moving average price of C$10.38.

Lundin Mining (TSE:LUN) last issued its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 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 analysts’ expectations of C$1.39 billion. Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. Sell-side analysts forecast that Lundin Mining will post 0.8100183 EPS for the current fiscal year.

Insider Transactions at Lundin Mining

In other news, Senior Officer Annie Laurenson sold 5,200 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$13.30, for a total value of C$69,160.00. 16.06% of the stock is currently owned by 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.