Insider Buying: Lundin Mining Co. (TSE:LUN) Insider Purchases 250,000 Shares of Stock

Lundin Mining Co. (TSE:LUN – Get Rating) insider Nemesia S.a.r.l. bought 250,000 shares of the firm’s stock in a transaction dated Friday, May 13th. The shares were acquired at an average price of C$9.84 per share, for a total transaction of C$2,459,800.00. Following the completion of the transaction, the insider now directly owns 96,172,698 shares in the company, valued at approximately C$946,262,410.16.

Shares of LUN traded up C$0.41 during midday trading on Monday, reaching C$10.23. 2,557,611 shares of the stock were exchanged, compared to its average volume of 2,085,943. Lundin Mining Co. has a 52 week low of C$8.56 and a 52 week high of C$14.09. The company has a current ratio of 1.94, a quick ratio of 1.60 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is C$12.29 and its two-hundred day moving average is C$11.32. The company has a market capitalization of C$7.97 billion and a P/E ratio of 7.16.

Lundin Mining (TSE:LUN – Get Rating) last posted its quarterly earnings results on Thursday, February 17th. The mining company reported C$0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.41 by C$0.07. The firm had revenue of C$1.28 billion for the quarter. On average, sell-side analysts expect that Lundin Mining Co. will post 12.0600003 EPS for the current year.

Several analysts have recently issued reports on LUN shares. Barclays upped their target price on shares of Lundin Mining from C$10.00 to C$12.00 and gave the company an “equal weight” rating in a research report on Thursday, April 21st. Eight Capital upped their target price on shares of Lundin Mining from C$15.00 to C$16.00 and gave the company a “buy” rating in a research report on Thursday, April 21st. CSFB increased their price objective on shares of Lundin Mining from C$13.00 to C$14.00 in a research report on Thursday, April 21st. JPMorgan Chase & Co. reduced their price objective on shares of Lundin Mining from C$15.00 to C$14.70 in a research report on Thursday, April 21st. Finally, Raymond James set a C$16.00 price objective on shares of Lundin Mining and gave the stock a “market perform” rating in a research report on Thursday, April 28th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$13.58.

Lundin Mining Company Profile (Get Rating)

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 Neves-Corvo mine located in Portugal; the Eagle mine located in the United States; and the Zinkgruvan mine located in Sweden.

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