Lundin Mining (TSE:LUN) Sets New 12-Month High on Analyst Upgrade

Lundin Mining Co. (TSE:LUN)’s stock price reached a new 52-week high on Wednesday after Haywood Securities raised their price target on the stock from C$28.00 to C$32.00. The company traded as high as C$28.64 and last traded at C$28.12, with a volume of 298746 shares changing hands. The stock had previously closed at C$27.91.

A number of other equities analysts have also recently weighed in on the stock. CIBC upped their price target on shares of Lundin Mining from C$24.00 to C$30.00 in a research note on Friday, December 12th. Scotiabank boosted their target price on Lundin Mining from C$23.00 to C$23.50 in a research report on Tuesday, October 28th. Cormark cut Lundin Mining from a “moderate buy” rating to a “hold” rating in a research report on Thursday, November 13th. TD Securities lifted their target price on shares of Lundin Mining from C$26.00 to C$28.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Stifel Nicolaus lifted their price objective on Lundin Mining from C$18.00 to C$26.00 in a research report on Tuesday, October 21st. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$25.01.

Lundin Mining Price Performance

The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 41.58. The company has a market capitalization of C$24.10 billion, a PE ratio of 938.67, a PEG ratio of -0.26 and a beta of 1.93. The company’s 50 day moving average price is C$24.07 and its 200-day moving average price is C$18.51.

Lundin Mining (TSE:LUN) last posted its earnings results on Wednesday, November 5th. The mining company reported C$0.18 earnings per share for the quarter. The business had revenue of C$1.40 billion for the quarter. Lundin Mining had a net margin of 6.63% and a return on equity of 5.55%.

Lundin Mining Company Profile

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.