Insider Buying: Lundin Mining Co. (TSE:LUN) Director Purchases 20,000 Shares of Stock

Lundin Mining Co. (TSE:LUN) Director Jack Oliver Lundin bought 20,000 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were acquired at an average price of C$12.65 per share, with a total value of C$252,934.00.

Lundin Mining Trading Up 4.7%

Lundin Mining stock opened at C$13.10 on Friday. The firm has a 50-day moving average of C$11.58 and a 200-day moving average of C$12.29. Lundin Mining Co. has a one year low of C$8.94 and a one year high of C$17.20. The company has a debt-to-equity ratio of 41.58, a current ratio of 1.40 and a quick ratio of 0.90. The company has a market cap of C$8.01 billion, a price-to-earnings ratio of 26.00, a P/E/G ratio of -0.26 and a beta of 1.66.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group set a C$16.60 price target on shares of Lundin Mining and gave the company a “buy” rating in a report on Thursday, March 6th. TD Securities raised shares of Lundin Mining from a “hold” rating to a “buy” rating and set a C$13.00 price target for the company in a report on Tuesday, April 15th. Scotiabank boosted their price target on shares of Lundin Mining from C$13.00 to C$14.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Morgan Stanley decreased their price target on shares of Lundin Mining from C$14.80 to C$12.00 in a report on Wednesday, April 9th. Finally, Stifel Nicolaus reduced their target price on shares of Lundin Mining from C$17.50 to C$16.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$15.65.

About Lundin Mining

Lundin Mining Corp is a diversified Canadian base metals mining company with operations in Brazil Chile Portugal Sweden and the United States of America producing copper zinc gold and nickel. Its material mineral properties include Candelaria Chapada Eagle and Neves-Corvo.