Lundin Mining (TSE:LUN) Sets New 52-Week High – Here’s Why

Shares of Lundin Mining Co. (TSE:LUN) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$26.09 and last traded at C$25.89, with a volume of 232295 shares changing hands. The stock had previously closed at C$25.34.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Haywood Securities downgraded Lundin Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Morgan Stanley boosted their target price on shares of Lundin Mining from C$13.70 to C$14.50 in a research note on Wednesday, August 20th. Stifel Nicolaus lifted their price target on shares of Lundin Mining from C$18.00 to C$26.00 in a research note on Tuesday, October 21st. Royal Bank Of Canada lifted their price target on Lundin Mining from C$16.00 to C$18.00 in a research note on Wednesday, September 10th. Finally, Raymond James Financial increased their price target on Lundin Mining from C$15.00 to C$16.00 in a report on Thursday, August 21st. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$20.59.

Lundin Mining Price Performance

The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 41.58. The stock has a market capitalization of C$22.43 billion, a price-to-earnings ratio of 873.00, a price-to-earnings-growth ratio of -0.26 and a beta of 1.93. The company’s 50 day moving average is C$20.16 and its 200 day moving average is C$16.12.

Lundin Mining (TSE:LUN) last posted its quarterly earnings data on Wednesday, November 5th. The mining company reported C$0.19 EPS for the quarter. Lundin Mining had a net margin of 6.63% and a return on equity of 5.55%. The company had revenue of C$1.40 billion for the quarter.

About Lundin Mining

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.