Lundin Mining (TSE:LUN) Stock Crosses Above 200-Day Moving Average – What’s Next?

Lundin Mining Co. (TSE:LUN)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$31.81 and traded as high as C$38.59. Lundin Mining shares last traded at C$36.10, with a volume of 3,881,830 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Lundin Mining from C$26.00 to C$40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. TD reduced their price target on shares of Lundin Mining from C$45.00 to C$44.00 and set a “buy” rating for the company in a research report on Friday, April 10th. The Goldman Sachs Group lifted their price objective on shares of Lundin Mining from C$23.90 to C$35.80 in a research note on Tuesday, January 13th. Citigroup boosted their price target on shares of Lundin Mining from C$32.00 to C$41.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, JPMorgan Chase & Co. lowered shares of Lundin Mining from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from C$32.90 to C$28.20 in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$38.30.

Lundin Mining Stock Up 2.9%

The company has a quick ratio of 0.90, a current ratio of 1.81 and a debt-to-equity ratio of 5.55. The firm has a market cap of C$31.79 billion, a PE ratio of 22.25, a P/E/G ratio of -0.26 and a beta of 2.25. The firm’s 50 day moving average is C$36.31 and its 200-day moving average is C$31.81.

Lundin Mining (TSE:LUN) last posted its quarterly earnings results on Wednesday, May 6th. The mining company reported C$0.43 earnings per share for the quarter. The company had revenue of C$1.61 billion for the quarter. Lundin Mining had a net margin of 35.92% and a return on equity of 23.11%.

Lundin Mining Company Profile

Lundin Mining Corp is a diversified Canadian base metals mining company with operations in Brazil Chile Portugal Sweden and the United States of America producing copper zinc gold and nickel. Its material mineral properties include Candelaria Chapada Eagle and Neves-Corvo.