Lundin Mining (TSE:LUN) Sets New 12-Month High Following Analyst Upgrade

Lundin Mining Co. (TSE:LUN)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Cormark upgraded the stock from a hold rating to a moderate buy rating. The company traded as high as C$29.33 and last traded at C$29.30, with a volume of 2122438 shares trading hands. The stock had previously closed at C$28.30.

A number of other research firms have also recently weighed in on LUN. National Bankshares upped their price objective on shares of Lundin Mining from C$20.00 to C$25.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price target on shares of Lundin Mining from C$28.00 to C$25.40 in a research report on Wednesday, December 3rd. Jefferies Financial Group lifted their price target on shares of Lundin Mining from C$28.00 to C$32.00 in a report on Monday, December 8th. TD Securities increased their price objective on shares of Lundin Mining from C$26.00 to C$28.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Ventum Financial raised their target price on shares of Lundin Mining from C$25.00 to C$32.00 in a report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$25.42.

Lundin Mining Stock Performance

The firm has a market capitalization of C$24.97 billion, a price-to-earnings ratio of 972.67, a P/E/G ratio of -0.26 and a beta of 1.93. The company has a 50-day moving average price of C$24.93 and a 200-day moving average price of C$19.10. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 41.58.

Lundin Mining (TSE:LUN) last announced its earnings results on Wednesday, November 5th. The mining company reported C$0.18 earnings per share for the quarter. Lundin Mining had a return on equity of 5.55% and a net margin of 6.63%.The firm had revenue of C$1.40 billion for the quarter.

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.