Lundin Mining (TSE:LUN) Hits New 52-Week High Following Analyst Upgrade

Lundin Mining Co. (TSE:LUNGet Free Report) reached a new 52-week high during trading on Tuesday after BMO Capital Markets raised their price target on the stock from C$16.50 to C$19.50. BMO Capital Markets currently has an outperform rating on the stock. Lundin Mining traded as high as C$17.97 and last traded at C$17.80, with a volume of 427326 shares. The stock had previously closed at C$17.50.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft cut Lundin Mining from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Royal Bank of Canada lifted their target price on Lundin Mining from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research note on Friday, May 3rd. UBS Group lifted their target price on Lundin Mining from C$12.50 to C$18.25 in a research note on Tuesday, April 9th. Morgan Stanley lifted their target price on Lundin Mining from C$16.40 to C$20.00 in a research note on Wednesday, May 8th. Finally, Pi Financial restated a “buy” rating on shares of Lundin Mining in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$15.65.

Get Our Latest Stock Analysis on Lundin Mining

Insider Buying and Selling at Lundin Mining

In other news, Senior Officer Teitur Nolsoe Poulsen sold 8,834 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of C$17.64, for a total transaction of C$155,831.76. In other news, Senior Officer Annie Laurenson sold 12,500 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of C$17.20, for a total transaction of C$215,000.00. Also, Senior Officer Teitur Nolsoe Poulsen sold 8,834 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of C$17.64, for a total value of C$155,831.76. Insiders sold 26,534 shares of company stock valued at $439,992 in the last quarter. 15.70% of the stock is currently owned by corporate insiders.

Lundin Mining Stock Performance

The firm has a market cap of C$12.70 billion, a PE ratio of 86.11, a price-to-earnings-growth ratio of -0.26 and a beta of 1.82. The company has a 50 day simple moving average of C$15.28 and a 200-day simple moving average of C$12.12. The company has a debt-to-equity ratio of 25.05, a current ratio of 1.57 and a quick ratio of 0.90.

Lundin Mining (TSE:LUNGet Free Report) last issued its earnings results on Wednesday, May 1st. The mining company reported C$0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.10 by C($0.02). The firm had revenue of C$1.26 billion during the quarter, compared to analysts’ expectations of C$1.27 billion. Lundin Mining had a return on equity of 3.49% and a net margin of 3.04%. As a group, equities research analysts anticipate that Lundin Mining Co. will post 0.8013972 EPS for the current year.

Lundin Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Friday, May 31st will be given a $0.09 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.36 annualized dividend and a yield of 2.20%. Lundin Mining’s payout ratio is currently 189.47%.

Lundin Mining Company Profile

(Get Free Report)

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.

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