Lundin Mining (TSE:LUN) Sets New 1-Year High – What’s Next?

Lundin Mining Co. (TSE:LUN)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$26.09 and last traded at C$25.89, with a volume of 232295 shares. The stock had previously closed at C$25.34.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LUN. BMO Capital Markets raised their price target on shares of Lundin Mining from C$22.00 to C$25.00 in a research report on Thursday, November 6th. TD Securities lifted their price target on shares of Lundin Mining from C$26.00 to C$28.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. CIBC boosted their target price on shares of Lundin Mining from C$18.00 to C$24.00 in a research note on Friday, October 10th. National Bankshares upped their price objective on Lundin Mining from C$20.00 to C$25.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Finally, Haywood Securities downgraded Lundin Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$20.59.

Lundin Mining Price Performance

The stock’s 50-day simple moving average is C$20.16 and its two-hundred day simple moving average is C$16.12. The firm has a market cap of C$22.43 billion, a P/E ratio of 873.00, a PEG ratio of -0.26 and a beta of 1.93. The company has a debt-to-equity ratio of 41.58, a current ratio of 1.40 and a quick ratio of 0.90.

Lundin Mining (TSE:LUN) last released its earnings results on Wednesday, November 5th. The mining company reported C$0.19 earnings per share for the quarter. Lundin Mining had a return on equity of 5.55% and a net margin of 6.63%.The business had revenue of C$1.40 billion for the quarter.

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.