Lundin Mining (TSE:LUN) Price Target Cut to C$12.50

Lundin Mining (TSE:LUN) had its price objective cut by equities research analysts at TD Securities from C$13.00 to C$12.50 in a note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the mining company’s stock. TD Securities’ price target suggests a potential upside of 20.19% from the stock’s previous close.

LUN has been the subject of a number of other research reports. Haywood Securities lowered their price objective on Lundin Mining from C$16.00 to C$15.00 in a research report on Monday, August 2nd. The Goldman Sachs Group reiterated an “underperform” rating and issued a C$15.30 target price (down previously from C$17.00) on shares of Lundin Mining in a report on Friday, October 8th. Morgan Stanley reduced their price objective on Lundin Mining from C$11.50 to C$10.70 and set an “equal weight” rating on the stock in a research note on Wednesday, September 29th. Bank of America reduced their price objective on Lundin Mining from C$15.30 to C$9.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 22nd. Finally, Credit Suisse Group reduced their price objective on Lundin Mining to C$11.25 and set a “neutral” rating on the stock in a research note on Wednesday, August 25th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$12.86.

Shares of TSE LUN opened at C$10.40 on Wednesday. Lundin Mining has a 1-year low of C$8.56 and a 1-year high of C$16.07. The company has a market cap of C$7.64 billion and a price-to-earnings ratio of 9.09. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.86 and a quick ratio of 1.43. The stock’s 50-day moving average is C$10.11 and its two-hundred day moving average is C$11.03.

Lundin Mining (TSE:LUN) last posted its quarterly earnings data on Wednesday, October 27th. The mining company reported C$0.29 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.31 by C($0.02). The business had revenue of C$952.44 million during the quarter. Equities research analysts anticipate that Lundin Mining will post 10.5099528 earnings per share for the current fiscal year.

In other Lundin Mining news, Senior Officer Marie Inkster sold 53,686 shares of the firm’s stock in a transaction that occurred on Tuesday, October 26th. The shares were sold at an average price of C$10.12, for a total value of C$543,184.21. Following the transaction, the insider now directly owns 501,057 shares of the company’s stock, valued at C$5,069,594.51. Also, Director Catherine Jean Garrett Stefan acquired 5,600 shares of Lundin Mining stock in a transaction on Friday, September 17th. The stock was acquired at an average cost of C$8.91 per share, for a total transaction of C$49,896.00. Following the completion of the purchase, the director now owns 62,000 shares of the company’s stock, valued at approximately C$552,420.

Lundin Mining Company Profile

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Brazil, Chile, Portugal, Sweden, and the United States. It primarily produces copper, zinc, nickel, and gold, as well as lead, silver, and other metals. The company holds 100% interests in the Chapada mine located in Brazil; the Eagle mine located in the United States; the Neves-Corvo mine located in Portugal; and the Zinkgruvan mine located in Sweden.

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Analyst Recommendations for Lundin Mining (TSE:LUN)

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