Lundin Mining (TSE:LUN) Trading Up 5.1% After Analyst Upgrade

Lundin Mining Co. (TSE:LUN) shares traded up 5.1% during mid-day trading on Wednesday after Raymond James raised their price target on the stock from C$11.50 to C$13.00. Raymond James currently has a market perform rating on the stock. Lundin Mining traded as high as C$16.02 and last traded at C$16.00. 436,885 shares changed hands during trading, a decline of 81% from the average session volume of 2,264,157 shares. The stock had previously closed at C$15.23.

LUN has been the topic of a number of other research reports. Bank of America raised their target price on Lundin Mining from C$12.50 to C$18.50 in a report on Tuesday, April 9th. Canaccord Genuity Group raised their target price on Lundin Mining from C$11.00 to C$16.50 in a report on Wednesday. CIBC raised their target price on Lundin Mining from C$12.00 to C$15.00 and gave the stock a “neutral” rating in a report on Wednesday. Stifel Nicolaus set a C$14.50 target price on Lundin Mining and gave the stock a “buy” rating in a report on Tuesday, March 26th. Finally, National Bankshares cut their price objective on Lundin Mining from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a report on Monday, January 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$14.56.

Insider Activity at Lundin Mining

In related news, Senior Officer Annie Laurenson sold 5,200 shares of Lundin Mining stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$13.30, for a total value of C$69,160.00. 15.70% of the stock is owned by insiders.

Lundin Mining Price Performance

The stock has a market cap of C$12.44 billion, a price-to-earnings ratio of 38.21, a price-to-earnings-growth ratio of -0.26 and a beta of 1.85. The company has a 50-day simple moving average of C$12.80 and a two-hundred day simple moving average of C$10.89. The company has a debt-to-equity ratio of 23.15, a quick ratio of 0.90 and a current ratio of 1.48.

Lundin Mining (TSE:LUN) last posted its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share for the quarter, missing the consensus estimate of C$0.15 by C($0.01). The company had revenue of C$1.44 billion for the quarter, compared to analyst estimates of C$1.39 billion. Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%. As a group, equities research analysts forecast that Lundin Mining Co. will post 0.8396226 EPS for the current year.

Lundin Mining Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, March 21st. Lundin Mining’s dividend payout ratio (DPR) is 85.71%.

Lundin Mining Company Profile

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.