Lundin Mining (TSE:LUN) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Shares of Lundin Mining Co. (TSE:LUN) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$28.62 and traded as high as C$32.59. Lundin Mining shares last traded at C$31.33, with a volume of 1,831,976 shares.

Analyst Upgrades and Downgrades

LUN has been the subject of a number of recent analyst reports. Canadian Imperial Bank of Commerce upped their price objective on Lundin Mining from C$30.00 to C$37.00 in a research note on Wednesday, February 4th. TD Securities boosted their price target on Lundin Mining from C$42.00 to C$45.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Raymond James Financial dropped their price target on Lundin Mining from C$30.00 to C$27.00 and set a “market perform” rating for the company in a research note on Monday, January 26th. Ci Capital increased their price objective on shares of Lundin Mining from C$32.00 to C$41.00 in a report on Wednesday, February 11th. Finally, Desjardins lifted their price objective on shares of Lundin Mining from C$35.00 to C$42.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$35.09.

Lundin Mining Trading Down 2.2%

The company has a debt-to-equity ratio of 9.31, a quick ratio of 0.90 and a current ratio of 1.64. The stock’s fifty day moving average is C$35.60 and its 200 day moving average is C$28.62. The stock has a market cap of C$26.78 billion, a P/E ratio of 21.03, a P/E/G ratio of -0.26 and a beta of 2.01.

Lundin Mining (TSE:LUN) last issued its quarterly earnings data on Friday, February 20th. The mining company reported C$0.59 earnings per share (EPS) for the quarter. Lundin Mining had a return on equity of 21.95% and a net margin of 33.65%.The business had revenue of C$1.51 billion for the quarter.

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.