Lundin Mining (TSE:LUN) Shares Up 5.1% After Analyst Upgrade

Lundin Mining Co. (TSE:LUN)’s share price traded up 5.1% during trading on Wednesday after Raymond James raised their price target on the stock from C$11.50 to C$13.00. Raymond James currently has a market perform rating on the stock. Lundin Mining traded as high as C$16.02 and last traded at C$16.00. 436,885 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 2,264,157 shares. The stock had previously closed at C$15.23.

Other equities analysts also recently issued research reports about the company. Morgan Stanley increased their price target on Lundin Mining from C$12.60 to C$16.40 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. CIBC increased their price target on Lundin Mining from C$12.00 to C$15.00 and gave the company a “neutral” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft downgraded Lundin Mining from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their target price on Lundin Mining from C$9.10 to C$15.50 and gave the stock a “neutral” rating in a report on Wednesday. Finally, National Bankshares reduced their price target on Lundin Mining from C$13.00 to C$12.50 and set an “outperform” rating for the company in a research report on Monday, January 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$14.56.

Insiders Place Their Bets

In other Lundin Mining news, Senior Officer Annie Laurenson sold 5,200 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of C$13.30, for a total transaction of C$69,160.00. 15.70% of the stock is owned by company insiders.

Lundin Mining Trading Up 2.6 %

The company has a fifty day simple moving average of C$12.80 and a two-hundred day simple moving average of C$10.89. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 23.15. The company has a market cap of C$12.44 billion, a PE ratio of 38.21, a P/E/G ratio of -0.26 and a beta of 1.85.

Lundin Mining (TSE:LUN) last issued its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share for the quarter, missing the consensus estimate of C$0.15 by C($0.01). Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%. The company had revenue of C$1.44 billion for the quarter, compared to analysts’ expectations of C$1.39 billion. Analysts anticipate that Lundin Mining Co. will post 0.8396226 EPS for the current year.

Lundin Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd were issued a $0.09 dividend. The ex-dividend date was Thursday, March 21st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.24%. Lundin Mining’s payout ratio is currently 85.71%.

About Lundin Mining

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.