Lundin Mining (TSE:LUN) Shares Pass Above 200 Day Moving Average – Time to Sell?

Lundin Mining Co. (TSE:LUN)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$36.83 and traded as high as C$38.03. Lundin Mining shares last traded at C$37.45, with a volume of 2,214,134 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LUN shares. Barclays increased their target price on Lundin Mining from C$42.00 to C$43.00 in a research report on Thursday, July 16th. The Goldman Sachs Group boosted their price target on Lundin Mining from C$40.80 to C$48.20 in a report on Friday, June 5th. Dnb Carnegie upgraded Lundin Mining to a “hold” rating in a research note on Friday, July 3rd. Scotiabank increased their price objective on shares of Lundin Mining from C$36.00 to C$42.00 and gave the company a “sector outperform” rating in a report on Monday, June 15th. Finally, TD cut their price objective on shares of Lundin Mining from C$43.00 to C$42.00 and set a “buy” rating for the company in a report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$39.71.

Lundin Mining Trading Down 7.4%

The company has a quick ratio of 0.90, a current ratio of 1.60 and a debt-to-equity ratio of 2.88. The stock’s 50 day moving average is C$35.94 and its 200-day moving average is C$36.81. The company has a market cap of C$29.37 billion, a PE ratio of 19.71, a P/E/G ratio of -0.26 and a beta of 2.23.

Lundin Mining (TSE:LUN) last posted its earnings results on Wednesday, August 5th. The mining company reported C$0.43 earnings per share for the quarter. The firm had revenue of C$1.72 billion for the quarter. Lundin Mining had a net margin of 35.11% and a return on equity of 22.97%.

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.