Lundin Mining (TSE:LUN) Hits New 12-Month Low Following Analyst Downgrade

Lundin Mining Co. (TSE:LUN) shares reached a new 52-week low during mid-day trading on Wednesday after Morgan Stanley lowered their price target on the stock from C$14.80 to C$12.00. The stock traded as low as C$9.07 and last traded at C$9.17, with a volume of 4334538 shares trading hands. The stock had previously closed at C$9.69.

LUN has been the topic of a number of other research reports. Desjardins raised shares of Lundin Mining to a “moderate buy” rating in a research report on Thursday, April 3rd. Stifel Canada raised shares of Lundin Mining to a “strong-buy” rating in a report on Wednesday, March 19th. Stifel Nicolaus reduced their price target on Lundin Mining from C$17.50 to C$16.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. National Bankshares raised their price objective on Lundin Mining from C$17.00 to C$17.50 and gave the stock an “outperform” rating in a research report on Wednesday, April 2nd. Finally, UBS Group reduced their target price on Lundin Mining from C$17.00 to C$15.50 in a research report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$16.46.

Insider Buying and Selling at Lundin Mining

In related news, insider Nemesia S.a.r.l. bought 2,000,000 shares of the stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average price of C$11.35 per share, for a total transaction of C$22,700,000.00. Also, Director Adam Ian Lundin purchased 150,000 shares of Lundin Mining stock in a transaction that occurred on Thursday, April 3rd. The shares were bought at an average price of C$10.82 per share, with a total value of C$1,623,000.00. Company insiders own 15.70% of the company’s stock.

Lundin Mining Trading Down 8.6 %

The firm has a market cap of C$5.81 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66. The company has a 50-day simple moving average of C$11.87 and a 200 day simple moving average of C$12.82. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 41.58.

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.