Raymond James Raises Lundin Mining (TSE:LUN) Price Target to C$13.00

Lundin Mining (TSE:LUN) had its price target upped by Raymond James from C$11.50 to C$13.00 in a research note published on Thursday, BayStreet.CA reports. They currently have a market perform rating on the mining company’s stock.

Several other brokerages also recently weighed in on LUN. Stifel Nicolaus set a C$14.50 target price on shares of Lundin Mining and gave the company a buy rating in a research note on Tuesday, March 26th. Pi Financial restated a buy rating on shares of Lundin Mining in a research note on Friday, March 1st. CIBC upped their price target on shares of Lundin Mining from C$12.00 to C$15.00 and gave the company a neutral rating in a report on Wednesday. National Bankshares cut their price target on shares of 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. Finally, Canaccord Genuity Group upped their price target on shares of Lundin Mining from C$11.00 to C$16.50 in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Lundin Mining currently has a consensus rating of Hold and an average target price of C$14.56.

Lundin Mining Price Performance

Shares of LUN stock opened at C$15.84 on Thursday. The company has a market capitalization of C$12.28 billion, a PE ratio of 37.71, a price-to-earnings-growth ratio of -0.26 and a beta of 1.85. The firm has a fifty day simple moving average of C$13.00 and a 200-day simple moving average of C$10.97. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 23.15. Lundin Mining has a twelve month low of C$8.18 and a twelve month high of C$16.51.

Lundin Mining (TSE:LUN) last announced its 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 firm had revenue of C$1.44 billion during the quarter, compared to analysts’ expectations of C$1.39 billion. Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. Equities research analysts anticipate that Lundin Mining will post 0.8396226 earnings per share for the current fiscal year.

Lundin Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.09 per share. The ex-dividend date was Thursday, March 21st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.27%. Lundin Mining’s dividend payout ratio (DPR) is 85.71%.

Insiders Place Their Bets

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

About Lundin Mining

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.