Raymond James Increases Lundin Mining (TSE:LUN) Price Target to C$15.00

Lundin Mining (TSE:LUN) had its price objective hoisted by analysts at Raymond James from C$13.00 to C$15.00 in a research report issued on Wednesday, BayStreet.CA reports. Raymond James’ price target would indicate a potential downside of 3.85% from the company’s previous close. Raymond James also issued estimates for Lundin Mining’s Q1 2024 earnings at $0.11 EPS, Q2 2024 earnings at $0.12 EPS, Q2 2024 earnings at $0.21 EPS, Q3 2024 earnings at $0.30 EPS, Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.25 EPS, FY2024 earnings at $0.86 EPS and FY2024 earnings at $0.68 EPS.

Several other equities research analysts have also weighed in on LUN. Jefferies Financial Group increased their price objective on shares of Lundin Mining from C$18.00 to C$20.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Morgan Stanley increased their price objective on shares of Lundin Mining from C$16.30 to C$16.40 in a research note on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Lundin Mining from C$9.10 to C$15.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Canaccord Genuity Group increased their price objective on shares of Lundin Mining from C$11.00 to C$16.50 in a research note on Wednesday, April 17th. Finally, BMO Capital Markets upgraded shares of Lundin Mining from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from C$12.00 to C$16.00 in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of C$14.93.

Lundin Mining Stock Performance

Shares of LUN stock opened at C$15.60 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 one year low of C$8.18 and a one year high of C$16.51. The company’s 50-day simple moving average is C$13.36 and its 200-day simple moving average is C$11.14. The stock has a market capitalization of C$12.09 billion, a price-to-earnings ratio of 37.14, a PEG ratio of -0.26 and a beta of 1.85.

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 the consensus estimate 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 company had revenue of C$1.44 billion for the quarter, compared to the consensus estimate of C$1.39 billion. Equities analysts anticipate that Lundin Mining will post 0.8396226 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Annie Laurenson sold 5,200 shares of the firm’s stock in a transaction that occurred 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. 15.70% of the stock is currently 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.