Lundin Mining (TSE:LUN) Stock Rating Upgraded by BMO Capital Markets

Lundin Mining (TSE:LUN) was upgraded by investment analysts at BMO Capital Markets to a “strong-buy” rating in a research note issued to investors on Friday,Zacks.com reports.

A number of other analysts have also weighed in on the stock. Canaccord Genuity Group raised shares of Lundin Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 16th. TD Securities raised Lundin Mining from a “hold” rating to a “buy” rating and set a C$13.00 target price on the stock in a research note on Tuesday, April 15th. Morgan Stanley decreased their price target on Lundin Mining from C$14.80 to C$12.00 in a research note on Wednesday, April 9th. National Bankshares cut their price objective on Lundin Mining from C$17.50 to C$15.50 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Finally, UBS Group lowered Lundin Mining from a “buy” rating to a “neutral” rating and reduced their target price for the stock from C$13.50 to C$13.00 in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$15.65.

Lundin Mining Stock Up 0.1%

Lundin Mining stock opened at C$14.45 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 41.58. The stock has a fifty day simple moving average of C$11.79 and a two-hundred day simple moving average of C$12.28. Lundin Mining has a 12 month low of C$8.94 and a 12 month high of C$16.31. The firm has a market cap of C$8.83 billion, a price-to-earnings ratio of 28.68, a PEG ratio of -0.26 and a beta of 1.66.

Insider Activity at Lundin Mining

In other news, Director Adam Ian Lundin purchased 150,000 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were acquired at an average cost 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 the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average price of C$11.35 per share, for a total transaction of C$22,700,000.00. Insiders have acquired a total of 2,170,000 shares of company stock valued at $24,575,934 over the last ninety days. 15.70% of the stock is owned by company 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.