Credit Suisse Group Increases Lundin Mining Co. (LUN.TO) (TSE:LUN) Price Target to C$11.00


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Lundin Mining Co. (LUN.TO) (TSE:LUN) had its target price raised by equities researchers at Credit Suisse Group from C$9.00 to C$11.00 in a report released on Tuesday, Stock Target Advisor reports. Credit Suisse Group’s target price would indicate a potential downside of 3.25% from the stock’s current price.

LUN has been the subject of several other research reports. Canaccord Genuity reaffirmed a “hold” rating on shares of Lundin Mining Co. (LUN.TO) in a research note on Monday. Eight Capital raised their target price on Lundin Mining Co. (LUN.TO) from C$10.50 to C$12.00 in a research note on Wednesday, October 14th. The Goldman Sachs Group reaffirmed a “buy” rating and set a C$11.00 target price on shares of Lundin Mining Co. (LUN.TO) in a research note on Thursday, October 15th. CIBC reaffirmed a “neutral” rating and set a C$11.00 target price on shares of Lundin Mining Co. (LUN.TO) in a research note on Wednesday, December 16th. Finally, TD Securities raised their target price on Lundin Mining Co. (LUN.TO) from C$10.00 to C$12.00 in a research note on Wednesday, December 16th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Lundin Mining Co. (LUN.TO) presently has a consensus rating of “Hold” and an average price target of C$11.74.

Shares of LUN stock opened at C$11.37 on Tuesday. The stock has a market cap of C$8.37 billion and a price-to-earnings ratio of 56.85. The stock has a 50-day moving average of C$10.68 and a 200-day moving average of C$8.70. The company has a current ratio of 1.57, a quick ratio of 1.12 and a debt-to-equity ratio of 7.97. Lundin Mining Co. has a 1-year low of C$0.01 and a 1-year high of C$12.47.

Lundin Mining Co. (LUN.TO) (TSE:LUN) last issued its quarterly earnings results on Wednesday, October 28th. The mining company reported C$0.19 earnings per share for the quarter, beating the consensus estimate of C$0.17 by C$0.02. The company had revenue of C$800.47 million during the quarter. Sell-side analysts forecast that Lundin Mining Co. will post 0.65 earnings per share for the current year.

In related news, Senior Officer Stephen Trelawney Gatley bought 33,330 shares of the company’s stock in a transaction dated Friday, December 4th. The shares were bought at an average price of C$8.17 per share, for a total transaction of C$272,306.10. Following the completion of the acquisition, the insider now directly owns 175,330 shares of the company’s stock, valued at C$1,432,446.10. Also, Senior Officer Mikael Schauman bought 132,000 shares of the company’s stock in a transaction dated Thursday, December 17th. The stock was bought at an average price of C$4.32 per share, for a total transaction of C$570,240.00. Following the acquisition, the insider now directly owns 214,000 shares of the company’s stock, valued at C$924,480. Insiders bought 228,330 shares of company stock worth $1,114,706 in the last 90 days.

About Lundin Mining Co. (LUN.TO)

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, and Sweden. It primarily produces copper, zinc, nickel, and gold, as well as lead, silver, and other metals. The company holds 100% interests in the Chapada mine located in Brazil; the Eagle mine located in the United States; the Neves-Corvo mine located in Portugal; and the Zinkgruvan mine located in Sweden.

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