Morgan Stanley Cuts Lundin Mining (LUN) Price Target to C$6.10
Lundin Mining (TSE:LUN) had its price target decreased by investment analysts at Morgan Stanley from C$7.20 to C$6.10 in a report released on Tuesday. Morgan Stanley’s target price would indicate a potential downside of 13.60% from the stock’s previous close.
Several other research firms also recently issued reports on LUN. BMO Capital Markets reaffirmed an “outperform” rating and set a C$10.50 price objective on shares of Lundin Mining in a report on Monday, October 23rd. Scotiabank reaffirmed a “focus stock” rating and set a C$10.50 price objective on shares of Lundin Mining in a report on Thursday, October 26th. Berenberg Bank upped their price objective on Lundin Mining from C$10.00 to C$10.25 in a report on Thursday, October 26th. National Bank Financial downgraded Lundin Mining from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from C$10.50 to C$11.50 in a report on Wednesday, October 18th. Finally, Eight Capital reiterated a “buy” rating on shares of Lundin Mining in a research report on Thursday, August 17th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Lundin Mining has a consensus rating of “Hold” and an average target price of C$9.86.
Shares of Lundin Mining (LUN) traded down C$0.16 on Tuesday, hitting C$7.06. The stock had a trading volume of 7,195,371 shares, compared to its average volume of 3,022,876. Lundin Mining has a fifty-two week low of C$6.30 and a fifty-two week high of C$10.22.
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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