Lundin Mining (TSE:LUN) Hits New 52-Week High Following Analyst Upgrade

Lundin Mining Co. (TSE:LUNGet Free Report)’s share price hit a new 52-week high during trading on Wednesday after Raymond James raised their price target on the stock from C$9.50 to C$11.50. The stock traded as high as C$13.74 and last traded at C$13.65, with a volume of 2777529 shares changing hands. The stock had previously closed at C$13.09.

Other research analysts have also recently issued reports about the company. Eight Capital set a C$11.50 price target on Lundin Mining and gave the stock a “buy” rating in a report on Wednesday, December 6th. CIBC lowered their target price on shares of Lundin Mining from C$13.00 to C$12.00 and set a “neutral” rating on the stock in a report on Tuesday, January 16th. Morgan Stanley dropped their target price on shares of Lundin Mining from C$12.80 to C$12.60 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Veritas Investment Research reiterated a “sell” rating on shares of Lundin Mining in a report on Friday, December 8th. Finally, Pi Financial reissued a “buy” rating on shares of Lundin Mining in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$11.99.

View Our Latest Stock Report on LUN

Lundin Mining Stock Down 2.4 %

The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 23.15. The company has a 50-day simple moving average of C$11.27 and a 200 day simple moving average of C$10.28. The company has a market cap of C$10.25 billion, a P/E ratio of 31.50, a P/E/G ratio of -0.26 and a beta of 1.81.

Lundin Mining (TSE:LUNGet Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 EPS for the quarter, missing the consensus estimate of C$0.15 by C($0.01). Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%. The company had revenue of C$1.44 billion during the quarter, compared to analysts’ expectations of C$1.39 billion. On average, equities analysts anticipate that Lundin Mining Co. will post 0.8100183 EPS for the current year.

Lundin Mining Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Thursday, March 21st. Lundin Mining’s dividend payout ratio (DPR) is presently 85.71%.

Lundin Mining Company Profile

(Get Free Report)

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, Brazil, the United States, Portugal, Sweden, and Argentina. It primarily produces copper, zinc, gold, nickel, and molybdenum, as well as lead, silver, and other metals.

Further Reading

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