Royal Bank of Canada Cuts Lundin Mining (OTCMKTS:LUNMF) Price Target to C$12.00

Lundin Mining (OTCMKTS:LUNMF) had its price objective lowered by Royal Bank of Canada from C$13.00 to C$12.00 in a research report report published on Wednesday morning, The Fly reports. The firm currently has a sector perform rating on the basic materials company’s stock.

A number of other brokerages have also issued reports on LUNMF. Credit Suisse Group dropped their price objective on shares of Lundin Mining from C$13.00 to C$11.25 and set a neutral rating for the company in a report on Wednesday, August 25th. Raymond James dropped their price objective on shares of Lundin Mining from C$14.50 to C$13.50 and set a market perform rating for the company in a report on Wednesday, October 13th. TD Securities dropped their price objective on shares of Lundin Mining from C$13.00 to C$12.50 and set a buy rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a buy rating on shares of Lundin Mining in a report on Friday, October 29th. Finally, BMO Capital Markets dropped their price objective on shares of Lundin Mining from C$16.50 to C$15.00 and set a market perform rating for the company in a report on Tuesday. Fifteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $13.00.

Shares of OTCMKTS LUNMF opened at $8.25 on Wednesday. The firm has a 50-day simple moving average of $8.05 and a 200-day simple moving average of $8.87. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 9.07 and a beta of 1.87. Lundin Mining has a 52 week low of $6.66 and a 52 week high of $13.11.

About Lundin Mining

Lundin Mining Corp. is a metal based company, which engages in mining, exploration and development of mineral properties, primarily in Chile, USA, Portugal, and Sweden. It holds interest in the following projects: Chapada, Candelaria, Eagle, Neves-Corvo, and Zinkgruvan. The company was founded on September 9, 1994 and is headquartered in Toronto, Canada.

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