Lundin Mining (TSE:LUN) Given New C$16.40 Price Target at Morgan Stanley

Lundin Mining (TSE:LUN) had its target price hoisted by Morgan Stanley from C$16.30 to C$16.40 in a research note released on Tuesday, BayStreet.CA reports.

Several other equities analysts have also recently commented on LUN. Deutsche Bank Aktiengesellschaft cut Lundin Mining from a buy rating to a hold rating in a research note on Tuesday, April 9th. Pi Financial reissued a buy rating on shares of Lundin Mining in a research report on Friday, March 1st. BMO Capital Markets raised Lundin Mining from a market perform rating to an outperform rating and upped their price target for the company from C$12.00 to C$16.00 in a research report on Wednesday, March 27th. Canaccord Genuity Group upped their price target on Lundin Mining from C$11.00 to C$16.50 in a research report on Wednesday, April 17th. Finally, Bank of America upped their price target on Lundin Mining from C$12.50 to C$18.50 in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Lundin Mining has an average rating of Hold and an average price target of C$14.81.

Lundin Mining Stock Performance

Lundin Mining stock opened at C$15.25 on Tuesday. The stock has a market cap of C$11.82 billion, a P/E ratio of 36.31, a price-to-earnings-growth ratio of -0.26 and a beta of 1.85. 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 stock has a 50 day moving average of C$13.18 and a 200-day moving average of C$11.08. Lundin Mining has a 52 week low of C$8.18 and a 52 week high of C$16.51.

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

Lundin Mining Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.36%. The ex-dividend date was Thursday, March 21st. Lundin Mining’s dividend payout ratio is presently 85.71%.

Insider Activity

In other news, Senior Officer Annie Laurenson sold 5,200 shares of the firm’s stock in a transaction 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.

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.