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

Lundin Mining (TSE:LUN) had its target price upped by Canaccord Genuity Group from C$11.00 to C$16.50 in a report issued on Wednesday morning, BayStreet.CA reports.

Several other analysts also recently issued reports on LUN. National Bankshares dropped their price target on Lundin Mining from C$13.00 to C$12.50 and set an outperform rating on the stock in a research note on Monday, January 15th. Morgan Stanley lifted their target price on Lundin Mining from C$12.60 to C$16.40 and gave the company an overweight rating in a research report on Thursday, March 28th. Stifel Nicolaus set a C$14.50 target price on Lundin Mining and gave the company a buy rating in a research report on Tuesday, March 26th. JPMorgan Chase & Co. lowered their target price on Lundin Mining from C$8.90 to C$8.40 in a research report on Friday, January 19th. Finally, BMO Capital Markets raised Lundin Mining from a market perform rating to an outperform rating and lifted their target price for the company from C$12.00 to C$16.00 in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Lundin Mining presently has a consensus rating of Hold and a consensus price target of C$14.48.

Lundin Mining Stock Performance

LUN opened at C$15.64 on Wednesday. The business’s 50-day moving average price is C$12.71 and its two-hundred day moving average price is C$10.86. Lundin Mining has a 1 year low of C$8.18 and a 1 year high of C$16.51. The company has a market capitalization 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. The company has a debt-to-equity ratio of 23.15, a current ratio of 1.48 and a quick ratio of 0.90.

Lundin Mining (TSE:LUN) last released its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of C$1.44 billion during the quarter, compared to analyst estimates of C$1.39 billion. Equities analysts expect that Lundin Mining will post 0.8396226 EPS for the current fiscal year.

Lundin Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Thursday, March 21st. Lundin Mining’s dividend payout ratio is presently 85.71%.

Insider Transactions at Lundin Mining

In other news, Senior Officer Annie Laurenson sold 5,200 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$13.30, for a total transaction of C$69,160.00. Corporate insiders own 15.70% of the company’s stock.

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.