Lundin Mining (OTCMKTS:LUNMF) Stock Price Passes Above 50-Day Moving Average of $6.92

Shares of Lundin Mining Co. (OTCMKTS:LUNMF – Get Rating) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $6.92 and traded as high as $7.69. Lundin Mining shares last traded at $7.69, with a volume of 10,247 shares.

Analysts Set New Price Targets

A number of analysts have recently weighed in on LUNMF shares. CIBC upped their target price on shares of Lundin Mining from C$9.50 to C$10.00 in a research report on Thursday, May 4th. National Bank Financial lifted their price objective on Lundin Mining from C$8.75 to C$10.50 in a research note on Tuesday, April 18th. BMO Capital Markets increased their target price on Lundin Mining from C$8.00 to C$8.50 in a research note on Thursday, February 23rd. Morgan Stanley upgraded shares of Lundin Mining from an “equal weight” rating to an “overweight” rating in a research note on Friday, February 3rd. Finally, Royal Bank of Canada lifted their target price on shares of Lundin Mining from C$11.00 to C$12.00 in a report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Lundin Mining presently has a consensus rating of “Hold” and an average price target of $24.25.

Lundin Mining Stock Up 2.3 %

The company has a fifty day moving average of $6.92 and a 200 day moving average of $6.57. The company has a quick ratio of 0.97, a current ratio of 1.28 and a debt-to-equity ratio of 0.01. The company has a market cap of $5.93 billion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 3.43 and a beta of 1.57.

Lundin Mining (OTCMKTS:LUNMF – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The basic materials company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.12. The firm had revenue of $811.40 million for the quarter. Lundin Mining had a net margin of 8.15% and a return on equity of 5.84%. On average, research analysts anticipate that Lundin Mining Co. will post 0.79 earnings per share for the current fiscal year.

Lundin Mining Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, April 12th. Stockholders of record on Friday, March 24th were given a dividend of $0.0665 per share. This is a boost from Lundin Mining’s previous dividend of $0.07. This represents a dividend yield of 4.83%. The ex-dividend date was Thursday, March 23rd. Lundin Mining’s payout ratio is presently 86.67%.

About Lundin Mining

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Lundin Mining Corp. is a metal-based company engaged in mining, exploration and development of mineral properties, primarily in Chile, USA, Portugal, and Sweden. It holds interest in the following projects: Chapada, Candelaria, Eagle, Neves-Corvo, and Zinkgruvan. The company was founded on September 9, 1994 and is headquartered in Toronto, Canada.