Lundin Mining (TSE:LUN) PT Raised to C$12.00

Lundin Mining (TSE:LUN) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from C$11.80 to C$12.00 in a report issued on Thursday, Analyst Price Targets reports. The brokerage currently has an “overweight” rating on the mining company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 11.94% from the company’s current price.

Several other equities research analysts have also commented on the stock. Bank of America cut their price target on shares of Lundin Mining from C$15.30 to C$9.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 22nd. CIBC cut their price target on shares of Lundin Mining from C$12.00 to C$11.00 and set a “neutral” rating on the stock in a research note on Monday, December 6th. Credit Suisse Group cut their price target on shares of Lundin Mining to C$10.50 and set a “neutral” rating on the stock in a research note on Monday, December 20th. Deutsche Bank Aktiengesellschaft lowered shares of Lundin Mining from a “buy” rating to a “hold” rating and cut their price target for the stock from C$11.50 to C$10.50 in a research note on Tuesday. Finally, Haywood Securities cut their price target on shares of Lundin Mining from C$14.00 to C$12.00 and set a “buy” rating on the stock in a research note on Friday, November 26th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$12.29.

TSE:LUN opened at C$10.72 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.43 and a current ratio of 1.86. The stock has a market capitalization of C$7.89 billion and a P/E ratio of 9.25. The company has a 50 day moving average price of C$10.32 and a 200 day moving average price of C$10.40. Lundin Mining has a fifty-two week low of C$8.56 and a fifty-two week high of C$16.07.

Lundin Mining (TSE:LUN) last released its quarterly earnings data on Wednesday, October 27th. The mining company reported C$0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.31 by C($0.02). The firm had revenue of C$952.44 million for the quarter. Research analysts forecast that Lundin Mining will post 11.4999999 earnings per share for the current fiscal year.

In related news, insider Nemesia S.a.r.l. acquired 100,000 shares of Lundin Mining stock in a transaction on Thursday, December 23rd. The shares were purchased at an average cost of C$9.49 per share, for a total transaction of C$949,180.00. Following the purchase, the insider now directly owns 94,922,698 shares of the company’s stock, valued at approximately C$900,987,264.88. Also, Senior Officer Marie Inkster sold 53,686 shares of the stock in a transaction on Tuesday, October 26th. The shares were sold at an average price of C$10.12, for a total transaction of C$543,184.21. Following the transaction, the insider now owns 501,057 shares in the company, valued at C$5,069,594.51.

About Lundin Mining

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Brazil, Chile, Portugal, Sweden, and the United States. It primarily produces copper, zinc, nickel, and gold, as well as lead, silver, and other metals. The company holds 100% interests in the Chapada mine located in Brazil; the Eagle mine located in the United States; the Neves-Corvo mine located in Portugal; and the Zinkgruvan mine located in Sweden.

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Analyst Recommendations for Lundin Mining (TSE:LUN)

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