Lundin Mining (TSE:LUN) was downgraded by stock analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a report released on Friday, StockTargetPrices.com reports. They currently have a C$8.50 price objective on the mining company’s stock, down from their prior price objective of C$10.00. Royal Bank Of Canada’s price target points to a potential upside of 13.03% from the company’s previous close.
LUN has been the subject of several other reports. Eight Capital decreased their price objective on shares of Lundin Mining from C$12.00 to C$11.00 in a research note on Friday. CIBC cut their target price on shares of Lundin Mining from C$12.00 to C$10.00 in a report on Friday. BMO Capital Markets cut their target price on shares of Lundin Mining from C$11.25 to C$10.00 and set a “market perform” rating for the company in a report on Thursday. National Bank Financial lifted their target price on shares of Lundin Mining from C$9.75 to C$11.50 and gave the company a “sector perform” rating in a report on Thursday. Finally, Raymond James Financial boosted their price target on shares of Lundin Mining from C$9.00 to C$10.00 and gave the stock a “market perform” rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of C$10.02.
Lundin Mining (TSE LUN) traded down C$1.44 during midday trading on Friday, reaching C$7.52. 74,935,581 shares of the company’s stock were exchanged, compared to its average volume of 2,964,312. Lundin Mining has a 1-year low of C$6.30 and a 1-year high of C$10.22.
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Lundin Mining Corporation is a diversified base metals mining company. The Company is engaged in mining, exploration and development of mineral properties, primarily in Chile, the United States, Portugal, Sweden and the Democratic Republic of Congo (DRC). Its segments include Candeleria, Eagle, Neves-Corvo, Zinkgruvan, Tenke Fungurume and Other.
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