Lundin Mining (TSE:LUN) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Lundin Mining Co. (TSE:LUN)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$35.84 and traded as low as C$33.06. Lundin Mining shares last traded at C$33.26, with a volume of 1,983,169 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LUN. Royal Bank Of Canada lifted their price target on shares of Lundin Mining from C$29.00 to C$42.00 in a research report on Thursday, March 12th. The Goldman Sachs Group lifted their target price on shares of Lundin Mining from C$40.80 to C$48.20 in a report on Friday, June 5th. BMO Capital Markets increased their price target on Lundin Mining from C$36.00 to C$45.00 in a research note on Wednesday, April 22nd. ATB Cormark Capital Markets lifted their price objective on Lundin Mining from C$32.50 to C$40.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 24th. Finally, TD cut their target price on Lundin Mining from C$45.00 to C$44.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Lundin Mining presently has an average rating of “Moderate Buy” and a consensus price target of C$39.74.

Lundin Mining Price Performance

The company has a current ratio of 1.81, a quick ratio of 0.90 and a debt-to-equity ratio of 5.55. The company has a fifty day moving average price of C$37.54 and a two-hundred day moving average price of C$35.84. The firm has a market cap of C$28.40 billion, a P/E ratio of 19.92, a PEG ratio of -0.26 and a beta of 2.32.

Lundin Mining (TSE:LUN) last announced its earnings results on Wednesday, May 6th. The mining company reported C$0.43 EPS for the quarter. The firm 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%.

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.