Lundin Mining (TSE:LUN) Given New C$15.00 Price Target at CIBC

Lundin Mining (TSE:LUN) had its price objective raised by equities research analysts at CIBC from C$12.00 to C$15.00 in a research note issued on Wednesday, BayStreet.CA reports. The firm currently has a “neutral” rating on the mining company’s stock. CIBC’s price objective would suggest a potential downside of 6.54% from the stock’s previous close.

Several other equities research analysts have also issued reports on LUN. UBS Group lifted their price target on Lundin Mining from C$12.50 to C$18.25 in a report on Tuesday, April 9th. BMO Capital Markets upgraded Lundin Mining from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from C$12.00 to C$16.00 in a research report on Wednesday, March 27th. Deutsche Bank Aktiengesellschaft cut Lundin Mining from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Bank of America boosted their price target on Lundin Mining from C$12.50 to C$18.50 in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Lundin Mining from C$8.90 to C$8.40 in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Lundin Mining has an average rating of “Hold” and an average price target of C$14.56.

Lundin Mining Price Performance

TSE:LUN opened at C$16.05 on Wednesday. The business’s 50-day moving average price is C$12.80 and its 200 day moving average price is C$10.89. The firm has a market cap of C$12.44 billion, a P/E ratio of 38.21, a PEG ratio of -0.26 and a beta of 1.85. Lundin Mining has a 52-week low of C$8.18 and a 52-week high of C$16.51. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 23.15.

Lundin Mining (TSE:LUN) last issued its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.01). Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%. The company had revenue of C$1.44 billion during the quarter, compared to analysts’ expectations of C$1.39 billion. As a group, sell-side analysts predict that Lundin Mining will post 0.8396226 earnings per share for the current fiscal year.

Insider Activity at Lundin Mining

In related news, Senior Officer Annie Laurenson sold 5,200 shares of Lundin Mining stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of C$13.30, for a total transaction of C$69,160.00. 15.70% of the stock is owned by company insiders.

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.