Lundin Mining (TSE:LUN) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Lundin Mining (TSE:LUN) from a hold rating to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

Several other brokerages have also weighed in on LUN. Desjardins upgraded shares of Lundin Mining to a “moderate buy” rating in a report on Thursday, April 3rd. TD Securities raised Lundin Mining from a “hold” rating to a “buy” rating and set a C$13.00 price target on the stock in a research note on Tuesday. Stifel Nicolaus decreased their price objective on Lundin Mining from C$17.50 to C$16.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Stifel Canada upgraded Lundin Mining to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Raymond James reduced their target price on Lundin Mining from C$15.00 to C$14.00 and set a “market perform” rating on the stock in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$16.14.

Lundin Mining Stock Performance

Lundin Mining stock opened at C$10.56 on Wednesday. The company has a market cap of C$6.45 billion, a PE ratio of 20.96, a PEG ratio of -0.26 and a beta of 1.66. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 41.58. Lundin Mining has a 1 year low of C$8.94 and a 1 year high of C$17.97. The company’s 50-day moving average is C$11.69 and its two-hundred day moving average is C$12.68.

Insiders Place Their Bets

In other Lundin Mining news, Director Adam Ian Lundin acquired 150,000 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were acquired at an average price of C$10.82 per share, with a total value of C$1,623,000.00. Also, insider Nemesia S.a.r.l. bought 2,000,000 shares of Lundin Mining stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average price of C$11.35 per share, with a total value of C$22,700,000.00. Corporate insiders own 15.70% of the company’s stock.

About Lundin Mining

Lundin Mining Corp is a diversified Canadian base metals mining company with operations in Brazil Chile Portugal Sweden and the United States of America producing copper zinc gold and nickel. Its material mineral properties include Candelaria Chapada Eagle and Neves-Corvo.