Lundin Mining (TSE:LUN) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Lundin Mining Co. (TSE:LUN) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$33.67 and traded as high as C$42.09. Lundin Mining shares last traded at C$41.18, with a volume of 4,928,367 shares.

Wall Street Analyst Weigh In

LUN has been the subject of several recent analyst reports. Canadian Imperial Bank of Commerce upped their price objective on shares of Lundin Mining from C$30.00 to C$37.00 in a report on Wednesday, February 4th. National Bank Financial upped their price objective on shares of Lundin Mining from C$42.00 to C$43.50 and gave the stock a “sector perform” rating in a report on Wednesday, April 15th. Desjardins upped their price objective on shares of Lundin Mining from C$35.00 to C$42.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Royal Bank Of Canada upped their price objective on shares of Lundin Mining from C$29.00 to C$42.00 in a report on Thursday, March 12th. Finally, JPMorgan Chase & Co. downgraded shares of Lundin Mining from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from C$32.90 to C$28.20 in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$38.49.

Lundin Mining Trading Down 1.0%

The company has a current ratio of 1.81, a quick ratio of 0.90 and a debt-to-equity ratio of 5.55. The business’s fifty day simple moving average is C$36.90 and its two-hundred day simple moving average is C$33.67. The stock has a market capitalization of C$35.23 billion, a P/E ratio of 24.66, a P/E/G ratio of -0.26 and a beta of 2.25.

Lundin Mining (TSE:LUN) last issued its quarterly earnings results on Wednesday, May 6th. The mining company reported C$0.43 earnings per share for the quarter. Lundin Mining had a net margin of 35.92% and a return on equity of 23.11%. The firm had revenue of C$1.61 billion during 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.