Lundin Mining (TSE:LUN) Upgraded to “Outperform” at Scotiabank

Scotiabank upgraded shares of Lundin Mining (TSE:LUN) from a sector perform rating to an outperform rating in a report released on Monday, Marketbeat.com reports. Scotiabank currently has C$16.00 price objective on the mining company’s stock, down from their prior price objective of C$18.00.

LUN has been the topic of a number of other reports. Royal Bank of Canada lifted their price objective on Lundin Mining from C$13.00 to C$17.00 and gave the stock a sector perform rating in a research note on Friday, May 3rd. Morgan Stanley increased their price target on Lundin Mining from C$20.00 to C$20.70 in a report on Friday, June 21st. BMO Capital Markets upped their target price on Lundin Mining from C$16.50 to C$19.50 and gave the company an outperform rating in a research report on Tuesday, May 21st. JPMorgan Chase & Co. lowered their target price on Lundin Mining from C$18.80 to C$18.20 in a report on Thursday, August 1st. Finally, CIBC raised their price objective on shares of Lundin Mining from C$16.00 to C$17.00 and gave the stock a neutral rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Lundin Mining presently has an average rating of Hold and a consensus price target of C$17.57.

Lundin Mining Price Performance

LUN stock opened at C$13.60 on Monday. The stock has a market cap of C$10.56 billion, a price-to-earnings ratio of 46.90, a P/E/G ratio of -0.26 and a beta of 1.67. The company has a debt-to-equity ratio of 24.64, a current ratio of 1.49 and a quick ratio of 0.90. The company has a 50 day simple moving average of C$14.27 and a 200 day simple moving average of C$14.18. Lundin Mining has a 1 year low of C$8.18 and a 1 year high of C$17.97.

Lundin Mining (TSE:LUN) last issued its quarterly earnings data on Tuesday, July 30th. The mining company reported C$0.22 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.25 by C($0.03). Lundin Mining had a return on equity of 5.04% and a net margin of 4.21%. The firm had revenue of C$1.48 billion for the quarter, compared to the consensus estimate of C$1.51 billion. Research analysts anticipate that Lundin Mining will post 0.9410132 EPS for the current fiscal year.

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.