Lundin Mining (TSE:LUN) Hits New 1-Year High After Analyst Upgrade

Lundin Mining Co. (TSE:LUN) reached a new 52-week high during trading on Tuesday after Ventum Financial raised their price target on the stock from C$25.00 to C$32.00. The company traded as high as C$29.33 and last traded at C$29.30, with a volume of 2122438 shares traded. The stock had previously closed at C$28.30.

A number of other equities analysts have also commented on LUN. Stifel Nicolaus boosted their price objective on shares of Lundin Mining from C$18.00 to C$26.00 in a report on Tuesday, October 21st. BMO Capital Markets raised their target price on Lundin Mining from C$22.00 to C$25.00 in a research note on Thursday, November 6th. Morgan Stanley boosted their price target on Lundin Mining from C$25.80 to C$29.60 in a research note on Tuesday, December 16th. CIBC raised their price objective on Lundin Mining from C$24.00 to C$30.00 in a research note on Friday, December 12th. Finally, Haywood Securities lifted their price objective on Lundin Mining from C$28.00 to C$32.00 in a report on Tuesday, December 16th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$25.42.

Lundin Mining Stock Performance

The company has a 50-day moving average of C$24.63 and a 200-day moving average of C$18.92. The firm has a market capitalization of C$25.07 billion, a price-to-earnings ratio of 976.67, a price-to-earnings-growth ratio of -0.26 and a beta of 1.93. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 41.58.

Lundin Mining (TSE:LUN) last released its quarterly earnings data on Wednesday, November 5th. The mining company reported C$0.18 EPS for the quarter. Lundin Mining had a net margin of 6.63% and a return on equity of 5.55%. The firm had revenue of C$1.40 billion during the quarter.

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.