Lundin Mining (OTCMKTS:LUNMF) Given New C$9.00 Price Target at Scotiabank

Lundin Mining (OTCMKTS:LUNMF – Get Rating) had its price target lowered by Scotiabank from C$10.00 to C$9.00 in a report published on Tuesday, The Fly reports.

A number of other brokerages have also weighed in on LUNMF. Deutsche Bank Aktiengesellschaft increased their target price on shares of Lundin Mining from SEK 64 to SEK 65 in a research report on Wednesday, November 23rd. JPMorgan Chase & Co. cut their target price on shares of Lundin Mining from SEK 69 to SEK 65 and set a neutral rating for the company in a research report on Wednesday, December 14th. National Bankshares lowered shares of Lundin Mining to a sell rating and set a $8.75 target price for the company. in a research report on Friday, January 13th. Morgan Stanley increased their target price on shares of Lundin Mining from SEK 70 to SEK 74 and gave the stock an equal weight rating in a research report on Thursday, December 8th. Finally, TD Securities increased their target price on shares of Lundin Mining from C$7.50 to C$8.00 in a research report on Thursday, October 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $24.52.

Lundin Mining Stock Performance

LUNMF opened at $6.73 on Tuesday. The firm has a market cap of $5.19 billion, a P/E ratio of 9.61 and a beta of 1.49. The firm has a 50-day moving average of $6.29 and a 200 day moving average of $5.70. Lundin Mining has a fifty-two week low of $4.54 and a fifty-two week high of $11.25.

Lundin Mining (OTCMKTS:LUNMF – Get Rating) last posted its quarterly earnings results on Tuesday, October 25th. The basic materials company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.09). The company had revenue of $648.50 million for the quarter. Lundin Mining had a net margin of 15.70% and a return on equity of 10.97%. Equities research analysts predict that Lundin Mining will post 0.51 earnings per share for the current fiscal year.

Lundin Mining Cuts Dividend

The business also recently announced a dividend, which was paid on Wednesday, December 14th. Investors of record on Friday, December 2nd were paid a $0.0664 dividend. This represents a yield of 4.37%. The ex-dividend date was Thursday, December 1st. Lundin Mining’s dividend payout ratio is currently 38.57%.

About Lundin Mining

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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.