Morgan Stanley Raises Lundin Mining (TSE:LUN) Price Target to C$16.40

Lundin Mining (TSE:LUN) had its target price boosted by Morgan Stanley from C$16.30 to C$16.40 in a report released on Tuesday, BayStreet.CA reports.

Several other equities analysts have also weighed in on the company. Canaccord Genuity Group lifted their price objective on Lundin Mining from C$11.00 to C$16.50 in a research note on Wednesday, April 17th. Pi Financial reaffirmed a buy rating on shares of Lundin Mining in a research note on Friday, March 1st. Raymond James lifted their price objective on Lundin Mining from C$11.50 to C$13.00 and gave the company a market perform rating in a research note on Thursday, April 18th. JPMorgan Chase & Co. lifted their price objective on Lundin Mining from C$9.10 to C$15.50 and gave the company a neutral rating in a research note on Wednesday, April 17th. Finally, UBS Group lifted their price objective on Lundin Mining from C$12.50 to C$18.25 in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of C$14.93.

Lundin Mining Trading Up 4.0 %

Shares of LUN stock opened at C$16.23 on Tuesday. The stock has a market cap of C$12.58 billion, a P/E ratio of 38.64, a P/E/G ratio of -0.26 and a beta of 1.85. The business has a fifty day simple moving average of C$13.45 and a 200-day simple moving average of C$11.19. Lundin Mining has a fifty-two week low of C$8.18 and a fifty-two week high of C$16.51. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 23.15.

Lundin Mining (TSE:LUN) last issued its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.01). Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%. The business had revenue of C$1.44 billion during the quarter, compared to analyst estimates of C$1.39 billion. On average, analysts forecast that Lundin Mining will post 0.8396226 earnings per share for the current fiscal year.

Lundin Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Thursday, March 21st. Lundin Mining’s payout ratio is 85.71%.

Insider Buying and Selling at Lundin Mining

In other Lundin Mining news, Senior Officer Annie Laurenson sold 5,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$13.30, for a total value of C$69,160.00. 15.70% of the stock is currently owned by corporate insiders.

Lundin Mining Company Profile

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, Brazil, the United States, Portugal, Sweden, and Argentina. It primarily produces copper, zinc, gold, nickel, and molybdenum, as well as lead, silver, and other metals.