UBS Group Downgrades Lundin Mining (TSE:LUN) to Neutral

Lundin Mining (TSE:LUN) was downgraded by analysts at UBS Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have a C$13.00 target price on the mining company’s stock, down from their prior target price of C$13.50. UBS Group’s price objective points to a potential upside of 11.40% from the stock’s previous close.

Several other analysts also recently issued reports on the company. TD Securities upgraded Lundin Mining from a “hold” rating to a “buy” rating and set a C$13.00 price objective on the stock in a research report on Tuesday, April 15th. Desjardins raised shares of Lundin Mining to a “moderate buy” rating in a research note on Thursday, April 3rd. Scotiabank lowered shares of Lundin Mining from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Stifel Nicolaus reduced their price objective on shares of Lundin Mining from C$17.50 to C$16.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Finally, Jefferies Financial Group lowered their target price on shares of Lundin Mining from C$20.00 to C$16.00 in a research note on Monday, January 6th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$15.99.

Lundin Mining Trading Up 1.0 %

Shares of Lundin Mining stock opened at C$11.67 on Friday. The business has a 50 day moving average price of C$11.56 and a 200 day moving average price of C$12.48. The company has a market capitalization of C$7.13 billion, a P/E ratio of 23.16, a P/E/G ratio of -0.26 and a beta of 1.66. The company has a debt-to-equity ratio of 41.58, a current ratio of 1.40 and a quick ratio of 0.90. Lundin Mining has a 1 year low of C$8.94 and a 1 year high of C$17.97.

Insider Buying and Selling at Lundin Mining

In related news, Director Adam Ian Lundin purchased 150,000 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was purchased at an average price of C$10.82 per share, for a total transaction of C$1,623,000.00. Also, insider Nemesia S.a.r.l. acquired 2,000,000 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average price of C$11.35 per share, for a total transaction of C$22,700,000.00. 15.70% of the stock is currently owned by corporate insiders.

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.