Lundin Mining (TSE:LUN) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Lundin Mining Co. (TSE:LUN)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$34.65 and traded as high as C$38.57. Lundin Mining shares last traded at C$37.86, with a volume of 2,531,020 shares traded.

Analysts Set New Price Targets

LUN has been the subject of a number of recent analyst reports. Desjardins upped their price target on Lundin Mining from C$35.00 to C$42.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. TD Securities upped their price target on Lundin Mining from C$42.00 to C$45.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. BMO Capital Markets upped their price objective on Lundin Mining from C$36.00 to C$45.00 in a research note on Wednesday, April 22nd. Morgan Stanley cut their price target on Lundin Mining from C$39.70 to C$34.90 in a report on Thursday, April 9th. Finally, JPMorgan Chase & Co. downgraded Lundin Mining from a “neutral” rating to an “underweight” rating and cut their price target for the company from C$32.90 to C$28.20 in a report on Monday, March 9th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Lundin Mining has a consensus rating of “Hold” and a consensus target price of C$39.15.

Lundin Mining Stock Performance

The company has a debt-to-equity ratio of 5.55, a current ratio of 1.81 and a quick ratio of 0.90. The stock has a 50-day simple moving average of C$38.35 and a 200-day simple moving average of C$34.65. The stock has a market cap of C$32.38 billion, a P/E ratio of 22.67, a PEG ratio of -0.26 and a beta of 2.24.

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

About Lundin Mining

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.