Lundin Mining Rating Increased to Buy at Merrill Lynch (LUN)
Lundin Mining (TSE:LUN) was upgraded by investment analysts at Merrill Lynch to a “buy” rating in a note issued to investors on Wednesday, Stock Ratings Network reports.
Lundin Mining (TSE:LUN) traded up 4.25% during mid-day trading on Wednesday, hitting $4.91. The stock had a trading volume of 3,843,871 shares. Lundin Mining has a one year low of $3.68 and a one year high of $5.37. The stock has a 50-day moving average of $4.38 and a 200-day moving average of $4.43. The company has a market cap of $2.870 billion and a P/E ratio of 36.23.
A number of other firms have also recently commented on LUN. Analysts at Dundee Securities cut their price target on shares of Lundin Mining from C$5.60 to C$5.30 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Banc Of America upgraded shares of Lundin Mining from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday. Finally, analysts at Bank of America Corp. upgraded shares of Lundin Mining to a “buy” rating in a research note to investors on Tuesday. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of C$5.88.
Lundin Mining Corporation (TSE:LUN) is a diversified Canadian-base metals mining company with operations in Portugal, Sweden, Spain and Ireland, producing copper, zinc, lead and nickel.
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