Lundin Mining (TSE:LUN) Sets New 1-Year Low After Analyst Downgrade

Lundin Mining Co. (TSE:LUNGet Rating) shares reached a new 52-week low during mid-day trading on Tuesday after CIBC lowered their price target on the stock from C$11.00 to C$9.50. The company traded as low as C$6.68 and last traded at C$6.80, with a volume of 2132503 shares. The stock had previously closed at C$7.22.

A number of other equities research analysts have also recently commented on LUN. National Bankshares lowered their target price on Lundin Mining from C$9.50 to C$9.00 and set a “sector perform” rating on the stock in a research note on Friday, July 29th. Barclays lowered their target price on Lundin Mining from C$11.00 to C$9.00 and set a “na” rating on the stock in a research note on Tuesday, July 19th. Scotiabank lowered their price objective on Lundin Mining from C$10.00 to C$8.50 in a research note on Friday, July 29th. Raymond James lowered their price objective on Lundin Mining from C$16.00 to C$12.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 19th. Finally, The Goldman Sachs Group cut Lundin Mining to a “hold” rating and set a C$69.00 price objective on the stock. in a research note on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$13.78.

Insider Transactions at Lundin Mining

In other Lundin Mining news, insider Nemesia S.a.r.l. acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, May 25th. The stock was bought at an average price of C$10.89 per share, with a total value of C$1,088,800.00. Following the completion of the acquisition, the insider now owns 96,272,698 shares of the company’s stock, valued at C$1,048,217,135.82. Over the last 90 days, insiders acquired 1,723,400 shares of company stock valued at $17,309,252.

Lundin Mining Stock Performance

The firm has a market cap of C$5.16 billion and a PE ratio of 3.82. The company has a 50 day simple moving average of C$8.78 and a 200-day simple moving average of C$10.76. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.50 and a quick ratio of 1.14.

About Lundin Mining

(Get Rating)

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Brazil, Chile, Portugal, Sweden, and the United States. It primarily produces copper, zinc, nickel, and gold, as well as lead, silver, and other metals. The company holds 100% interests in the Chapada mine located in Brazil; the Neves-Corvo mine located in Portugal; the Eagle mine located in the United States; and the Zinkgruvan mine located in Sweden.

Read More

Want More Great Investing Ideas?

Receive News & Ratings for Lundin Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lundin Mining and related companies with MarketBeat.com's FREE daily email newsletter.