Lundin Mining (TSE:LUN) Downgraded to Hold Rating by Scotiabank

Scotiabank cut shares of Lundin Mining (TSE:LUN) from a strong-buy rating to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

LUN has been the subject of a number of other reports. Ventum Financial upped their target price on Lundin Mining from C$18.50 to C$19.00 in a research report on Friday, October 18th. Jefferies Financial Group decreased their price objective on Lundin Mining from C$20.00 to C$16.00 in a report on Monday, January 6th. UBS Group lowered their target price on shares of Lundin Mining from C$17.00 to C$15.50 in a research report on Tuesday, January 7th. Finally, Raymond James reduced their price target on shares of Lundin Mining from C$15.00 to C$14.00 and set a “market perform” rating for the company in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Lundin Mining has an average rating of “Moderate Buy” and an average target price of C$17.31.

Lundin Mining Price Performance

Shares of TSE LUN opened at C$12.44 on Wednesday. The stock’s 50-day simple moving average is C$13.08 and its 200-day simple moving average is C$13.60. The company has a debt-to-equity ratio of 24.64, a quick ratio of 0.90 and a current ratio of 1.49. The firm has a market capitalization of C$9.66 billion, a PE ratio of 44.43, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66. Lundin Mining has a fifty-two week low of C$9.85 and a fifty-two week high of C$17.97.

Lundin Mining (TSE:LUN) last announced its quarterly earnings results on Wednesday, November 6th. The mining company reported C$0.12 EPS for the quarter, missing the consensus estimate of C$0.24 by C($0.12). Lundin Mining had a return on equity of 5.04% and a net margin of 4.21%. The company had revenue of C$1.46 billion for the quarter, compared to analyst estimates of C$1.49 billion.

Lundin Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Friday, November 29th. Lundin Mining’s dividend payout ratio is presently 128.57%.

Lundin Mining Company Profile

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.