BMO Capital Markets upgraded shares of Lundin Mining (OTCMKTS:LUNMF – Free Report) from a market perform rating to an outperform rating in a report published on Wednesday, Benzinga reports. The brokerage currently has $16.00 price objective on the basic materials company’s stock, up from their prior price objective of $12.00.
Separately, Raymond James increased their price objective on Lundin Mining from $9.50 to $11.50 and gave the company a market perform rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lundin Mining has a consensus rating of Moderate Buy and a consensus target price of $11.56.
View Our Latest Stock Report on LUNMF
Lundin Mining Stock Up 3.7 %
Lundin Mining (OTCMKTS:LUNMF – Get Free Report) last released its earnings results on Wednesday, February 21st. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). Lundin Mining had a net margin of 7.12% and a return on equity of 5.13%. The business had revenue of $1.06 billion during the quarter. On average, research analysts expect that Lundin Mining will post 0.59 earnings per share for the current fiscal year.
Lundin Mining Increases Dividend
The business also recently announced a dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd will be given a dividend of $0.0666 per share. The ex-dividend date of this dividend is Thursday, March 21st. This represents a dividend yield of 2.78%. This is an increase from Lundin Mining’s previous dividend of $0.07. Lundin Mining’s dividend payout ratio is currently 84.38%.
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.
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