Lundin Mining (TSE:LUN) Shares Cross Above 200 Day Moving Average – What’s Next?

Lundin Mining Co. (TSE:LUN)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$36.30 and traded as high as C$37.22. Lundin Mining shares last traded at C$36.24, with a volume of 4,112,714 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. BMO Capital Markets increased their price target on shares of Lundin Mining from C$36.00 to C$45.00 in a report on Wednesday, April 22nd. National Bank Financial cut their price target on Lundin Mining from C$43.50 to C$42.50 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. ATB Cormark Capital Markets boosted their price objective on shares of Lundin Mining from C$32.50 to C$40.00 and gave the company an “outperform” rating in a research report on Wednesday, June 24th. Dnb Carnegie upgraded Lundin Mining to a “hold” rating in a research note on Friday, July 3rd. Finally, TD decreased their target price on Lundin Mining from C$44.00 to C$43.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Lundin Mining has an average rating of “Moderate Buy” and a consensus price target of C$39.69.

Lundin Mining Stock Down 3.2%

The company has a 50-day moving average price of C$36.95 and a 200 day moving average price of C$36.30. The company has a debt-to-equity ratio of 5.55, a current ratio of 1.81 and a quick ratio of 0.90. The firm has a market capitalization of C$30.94 billion, a PE ratio of 21.70, a P/E/G ratio of -0.26 and a beta of 2.32.

Lundin Mining (TSE:LUN) last posted its earnings results on Wednesday, May 6th. The mining company reported C$0.43 earnings per share for the quarter. The company had revenue of C$1.61 billion during the quarter. Lundin Mining had a net margin of 35.92% and a return on equity of 23.11%.

Lundin Mining Company Profile

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.