Lundin Mining’s (LUN) Outperform Rating Reaffirmed at Scotiabank

Scotiabank reiterated their outperform rating on shares of Lundin Mining (TSE:LUN) in a research report report published on Friday, February 16th. Scotiabank currently has a C$9.50 price target on the mining company’s stock.

Other research analysts have also recently issued research reports about the stock. BMO Capital Markets restated an outperform rating and issued a C$10.50 price objective on shares of Lundin Mining in a research report on Monday, October 23rd. Berenberg Bank boosted their price objective on shares of Lundin Mining from C$10.00 to C$10.25 in a research report on Thursday, October 26th. Canaccord Genuity cut shares of Lundin Mining from a buy rating to a hold rating and dropped their target price for the company from C$10.50 to C$9.00 in a research report on Thursday, November 30th. National Bank Financial upped their price objective on shares of Lundin Mining from C$9.75 to C$11.50 and gave the company a sector perform rating in a research report on Thursday, November 30th. Finally, Raymond James Financial upped their price objective on shares of Lundin Mining from C$9.00 to C$10.00 and gave the company a market perform rating in a research report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. Lundin Mining presently has a consensus rating of Hold and a consensus target price of C$9.30.

Lundin Mining (TSE LUN) traded up C$0.33 during mid-day trading on Friday, reaching C$8.88. The company had a trading volume of 4,028,729 shares, compared to its average volume of 2,747,596. The firm has a market capitalization of $6,030.00, a P/E ratio of 13.45 and a beta of 1.40. Lundin Mining has a fifty-two week low of C$6.62 and a fifty-two week high of C$10.22.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 11th. Stockholders of record on Friday, March 23rd will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, March 22nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.35%. Lundin Mining’s dividend payout ratio is 13.92%.

In related news, insider Stephen Trelawney Gatley sold 120,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$8.47, for a total transaction of C$1,016,400.00. Also, insider Neil Patrick Matthew O’brien sold 55,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of C$8.42, for a total transaction of C$463,100.00.

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Lundin Mining Company Profile

Lundin Mining Corporation is a diversified base metals mining company. The Company is engaged in mining, exploration and development of mineral properties, primarily in Chile, the United States, Portugal, Sweden and the Democratic Republic of Congo (DRC). Its segments include Candeleria, Eagle, Neves-Corvo, Zinkgruvan, Tenke Fungurume and Other.

Analyst Recommendations for Lundin Mining (TSE:LUN)

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