Lundin Mining (TSE:LUN) Price Target Increased to C$16.40 by Analysts at Morgan Stanley

Lundin Mining (TSE:LUN) had its price target increased by Morgan Stanley from C$16.30 to C$16.40 in a research note released on Tuesday, BayStreet.CA reports.

A number of other analysts have also recently weighed in on the stock. BMO Capital Markets raised shares of Lundin Mining from a market perform rating to an outperform rating and raised their price objective for the stock from C$12.00 to C$16.00 in a report on Wednesday, March 27th. Pi Financial reissued a buy rating on shares of Lundin Mining in a report on Friday, March 1st. JPMorgan Chase & Co. raised their price objective on shares of Lundin Mining from C$9.10 to C$15.50 and gave the stock a neutral rating in a report on Wednesday, April 17th. Eight Capital cut shares of Lundin Mining from a buy rating to a neutral rating and raised their price objective for the stock from C$13.00 to C$16.00 in a report on Monday. Finally, Canaccord Genuity Group raised their price objective on shares of Lundin Mining from C$11.00 to C$16.50 in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of C$14.81.

Lundin Mining Stock Down 3.4 %

Shares of Lundin Mining stock opened at C$15.25 on Tuesday. Lundin Mining has a 52-week low of C$8.18 and a 52-week high of C$16.51. The company has a 50 day moving average of C$13.18 and a 200 day moving average of C$11.08. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 23.15. The company has a market capitalization of C$11.82 billion, a P/E ratio of 36.31, a P/E/G ratio of -0.26 and a beta of 1.85.

Lundin Mining (TSE:LUN) last issued its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share (EPS) 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 firm had revenue of C$1.44 billion during the quarter, compared to analysts’ expectations of C$1.39 billion. As a group, research analysts forecast that Lundin Mining will post 0.8396226 EPS for the current fiscal year.

Lundin Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 22nd were given a $0.09 dividend. The ex-dividend date was Thursday, March 21st. This represents a $0.36 dividend on an annualized basis and a yield of 2.36%. Lundin Mining’s dividend payout ratio (DPR) is 85.71%.

Insider Activity at Lundin Mining

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