CIBC Raises Lundin Mining (TSE:LUN) Price Target to C$15.00

Lundin Mining (TSE:LUN) had its price objective hoisted by CIBC from C$12.00 to C$15.00 in a research note released on Wednesday, BayStreet.CA reports. CIBC currently has a neutral rating on the mining company’s stock.

Other equities analysts have also recently issued research reports about the company. Pi Financial reiterated a buy rating on shares of Lundin Mining in a report on Friday, March 1st. Morgan Stanley lifted their target price on Lundin Mining from C$12.60 to C$16.40 and gave the stock an overweight rating in a report on Thursday, March 28th. Jefferies Financial Group lifted their target price on Lundin Mining from C$18.00 to C$20.00 and gave the stock a buy rating in a report on Friday, April 12th. BMO Capital Markets upgraded Lundin Mining from a market perform rating to an outperform rating and lifted their target price for the stock from C$12.00 to C$16.00 in a report on Wednesday, March 27th. Finally, Raymond James lifted their target price 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 given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Lundin Mining currently has a consensus rating of Hold and a consensus price target of C$14.56.

Lundin Mining Stock Performance

TSE LUN opened at C$15.84 on Wednesday. The stock has a market capitalization of C$12.28 billion, a PE ratio of 37.71, a P/E/G ratio of -0.26 and a beta of 1.85. The business has a 50 day simple moving average of C$12.91 and a two-hundred day simple moving average of C$10.93. The company has a debt-to-equity ratio of 23.15, a current ratio of 1.48 and a quick ratio of 0.90. Lundin Mining has a 1-year low of C$8.18 and a 1-year high of C$16.51.

Lundin Mining (TSE:LUN) last released its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share for the quarter, missing the consensus estimate of C$0.15 by C($0.01). The firm had revenue of C$1.44 billion for 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%. On average, research analysts predict that Lundin Mining will post 0.8396226 EPS for the current fiscal year.

Lundin Mining Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, March 21st. Lundin Mining’s dividend payout ratio (DPR) is presently 85.71%.

Insider Buying and Selling at Lundin Mining

In other Lundin Mining news, Senior Officer Annie Laurenson sold 5,200 shares of Lundin Mining 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 currently owned by corporate 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.