Lundin Mining (TSE:LUN) Price Target Raised to C$16.00 at Scotiabank

Lundin Mining (TSE:LUN) had its price objective hoisted by Scotiabank from C$14.50 to C$16.00 in a research note released on Monday,BayStreet.CA reports.

Several other equities research analysts have also weighed in on the company. Desjardins upgraded Lundin Mining to a “moderate buy” rating in a report on Thursday, April 3rd. Morgan Stanley reduced their price objective on shares of Lundin Mining from C$14.80 to C$12.00 in a research note on Wednesday, April 9th. TD Securities upgraded shares of 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. The Goldman Sachs Group set a C$16.60 target price on shares of Lundin Mining and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, BMO Capital Markets upgraded shares of Lundin Mining to a “strong-buy” rating in a report on Friday, June 6th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Lundin Mining presently has an average rating of “Moderate Buy” and an average price target of C$15.78.

Lundin Mining Trading Up 1.6%

Lundin Mining stock opened at C$14.13 on Monday. Lundin Mining has a one year low of C$8.94 and a one year high of C$16.31. The company’s fifty day moving average price is C$12.29 and its two-hundred day moving average price is C$12.27. The company has a debt-to-equity ratio of 41.58, a current ratio of 1.40 and a quick ratio of 0.90. The company has a market capitalization of C$8.63 billion, a price-to-earnings ratio of 28.04, a PEG ratio of -0.26 and a beta of 1.66.

Insider Transactions at Lundin Mining

In other Lundin Mining news, Director Adam Ian Lundin bought 150,000 shares of the stock in a transaction that occurred on 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, Director Jack Oliver Lundin purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average cost of C$12.65 per share, with a total value of C$252,934.00. In the last quarter, insiders have bought 3,070,000 shares of company stock valued at $37,265,934. 15.70% of the stock is 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.