Lundin Mining (TSE:LUN) Given New C$16.50 Price Target at Canaccord Genuity Group

Lundin Mining (TSE:LUN) had its price objective boosted by Canaccord Genuity Group from C$11.00 to C$16.50 in a research note published on Wednesday morning, BayStreet.CA reports.

A number of other brokerages have also issued reports on LUN. BMO Capital Markets upgraded Lundin Mining from a market perform rating to an outperform rating and boosted their price target for the stock from C$12.00 to C$16.00 in a research report on Wednesday, March 27th. Jefferies Financial Group upped their price objective on Lundin Mining from C$18.00 to C$20.00 and gave the company a buy rating in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft lowered Lundin Mining from a buy rating to a hold rating in a report on Tuesday, April 9th. UBS Group upped their price objective on Lundin Mining from C$12.50 to C$18.25 in a report on Tuesday, April 9th. Finally, Raymond James upped their price objective on Lundin Mining from C$9.50 to C$11.50 in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of C$14.48.

Lundin Mining Trading Up 2.7 %

Shares of LUN stock opened at C$15.64 on Wednesday. The company has a debt-to-equity ratio of 23.15, a quick ratio of 0.90 and a current ratio of 1.48. Lundin Mining has a 1 year low of C$8.18 and a 1 year high of C$16.51. The stock has a fifty day moving average of C$12.71 and a two-hundred day moving average of C$10.86. The firm has a market capitalization of C$12.12 billion, a PE ratio of 37.24, a price-to-earnings-growth ratio of -0.26 and a beta of 1.85.

Lundin Mining (TSE:LUN) last announced its quarterly 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). Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%. The business had revenue of C$1.44 billion for the quarter, compared to analyst estimates of C$1.39 billion. As a group, research analysts expect that Lundin Mining will post 0.8396226 EPS for the current year.

Lundin Mining Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 22nd were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, March 21st. Lundin Mining’s payout ratio is 85.71%.

Insider Activity at Lundin Mining

In related news, Senior Officer Annie Laurenson sold 5,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$13.30, for a total transaction of C$69,160.00. 15.70% of the stock is owned by insiders.

About Lundin Mining

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.