Lundin Mining (TSE:LUN) Stock Price Up 1.1% Following Insider Buying Activity

Lundin Mining Co. (TSE:LUN)’s stock price rose 1.1% during mid-day trading on Monday after an insider bought additional shares in the company. The stock traded as high as C$10.06 and last traded at C$9.60. Approximately 851,212 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 2,607,199 shares. The stock had previously closed at C$9.50.

Specifically, insider Nemesia S.a.r.l. purchased 2,000,000 shares of the stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average price of C$11.35 per share, with a total value of C$22,700,000.00. Also, Director Adam Ian Lundin acquired 150,000 shares of Lundin Mining stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average cost of C$10.82 per share, with a total value of C$1,623,000.00.

Analysts Set New Price Targets

LUN has been the topic of several recent research reports. Jefferies Financial Group dropped their target price on Lundin Mining from C$20.00 to C$16.00 in a research report on Monday, January 6th. Desjardins raised Lundin Mining to a “moderate buy” rating in a research report on Thursday. The Goldman Sachs Group set a C$16.60 target price on shares of Lundin Mining and gave the stock a “buy” rating in a report on Thursday, March 6th. Stifel Canada upgraded shares of Lundin Mining to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Raymond James reduced their price objective on shares of Lundin Mining from C$15.00 to C$14.00 and set a “market perform” rating for the company in a research note on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$17.09.

Lundin Mining Stock Up 3.1 %

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 business has a fifty day moving average of C$12.10 and a two-hundred day moving average of C$12.95. The company has a market cap of C$5.98 billion, a price-to-earnings ratio of 19.43, a PEG ratio of -0.26 and a beta of 1.66.

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.