Canaccord Genuity Group Raises Lundin Mining (TSE:LUN) Price Target to C$16.50

Lundin Mining (TSE:LUN) had its price target boosted by investment analysts at Canaccord Genuity Group from C$11.00 to C$16.50 in a note issued to investors on Wednesday, BayStreet.CA reports. Canaccord Genuity Group’s price target points to a potential upside of 5.50% from the company’s previous close.

LUN has been the subject of several other reports. Deutsche Bank Aktiengesellschaft downgraded Lundin Mining from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. lowered their target price on shares of Lundin Mining from C$8.90 to C$8.40 in a report on Friday, January 19th. Raymond James raised their price target on shares of Lundin Mining from C$9.50 to C$11.50 in a research report on Wednesday, March 20th. Jefferies Financial Group upped their price objective on shares of Lundin Mining from C$18.00 to C$20.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Pi Financial reissued a “buy” rating on shares of Lundin Mining in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Lundin Mining presently has an average rating of “Hold” and a consensus target price of C$14.48.

Lundin Mining Stock Up 2.7 %

LUN stock traded up C$0.41 during midday trading on Wednesday, reaching C$15.64. 2,633,501 shares of the company’s stock traded hands, compared to its average volume of 2,297,374. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 23.15. The firm’s fifty day moving average price is C$12.71 and its 200-day moving average price is C$10.86. Lundin Mining has a 52 week low of C$8.18 and a 52 week high of C$16.51. The company has a market cap of C$12.12 billion, a price-to-earnings ratio of 37.24, a P/E/G ratio of -0.26 and a beta of 1.85.

Lundin Mining (TSE:LUN) last issued its quarterly earnings data on Wednesday, February 21st. The mining company reported C$0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.01). Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. The business had revenue of C$1.44 billion for the quarter, compared to analyst estimates of C$1.39 billion. As a group, sell-side analysts forecast that Lundin Mining will post 0.8396226 earnings per share for the current fiscal year.

Insider Activity at Lundin Mining

In related news, Senior Officer Annie Laurenson sold 5,200 shares of Lundin Mining stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$13.30, for a total value of C$69,160.00. 15.70% of the stock is currently owned by corporate insiders.

Lundin Mining Company Profile

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, Brazil, the United States, Portugal, Sweden, and Argentina. It primarily produces copper, zinc, gold, nickel, and molybdenum, as well as lead, silver, and other metals.