Lundin Mining (TSE:LUN) Rating Lowered to Neutral at Eight Capital

Lundin Mining (TSE:LUN) was downgraded by investment analysts at Eight Capital from a “buy” rating to a “neutral” rating in a research note issued on Monday, BayStreet.CA reports. They currently have a C$16.00 target price on the mining company’s stock, up from their prior target price of C$13.00. Eight Capital’s price objective would suggest a potential upside of 4.92% from the stock’s previous close.

A number of other equities research analysts have also weighed in on LUN. Stifel Nicolaus set a C$14.50 target price on shares of Lundin Mining and gave the stock a “buy” rating in a report on Tuesday, March 26th. National Bankshares reduced their price objective on shares of Lundin Mining from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a research note on Monday, January 15th. Raymond James upped their price objective on shares of Lundin Mining from C$11.50 to C$13.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. UBS Group upped their price objective on shares of Lundin Mining from C$12.50 to C$18.25 in a research note on Tuesday, April 9th. Finally, Morgan Stanley upped their price objective on shares of Lundin Mining from C$12.60 to C$16.40 and gave the company an “overweight” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$14.81.

Lundin Mining Trading Down 3.4 %

Shares of Lundin Mining stock opened at C$15.25 on Monday. The firm has a market capitalization of C$11.82 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of -0.26 and a beta of 1.85. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 23.15. The firm’s 50 day moving average is C$13.18 and its 200 day moving average is C$11.08. 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 announced its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.15 by C($0.01). The company had revenue of C$1.44 billion for the quarter, compared to the consensus estimate of C$1.39 billion. Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. Equities research analysts forecast that Lundin Mining will post 0.8396226 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lundin Mining news, Senior Officer Annie Laurenson sold 5,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$13.30, for a total transaction of C$69,160.00. Corporate insiders own 15.70% of the company’s stock.

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.