Royal Bank of Canada Boosts Lundin Mining (TSE:LUN) Price Target to C$17.00

Lundin Mining (TSE:LUN) had its price target raised by Royal Bank of Canada from C$13.00 to C$17.00 in a report issued on Friday, BayStreet.CA reports. The firm currently has a sector perform rating on the mining company’s stock.

Several other equities research analysts have also recently issued reports on LUN. Deutsche Bank Aktiengesellschaft cut shares of Lundin Mining from a buy rating to a hold rating in a research report on Tuesday, April 9th. National Bankshares lowered their price target on Lundin Mining from C$13.00 to C$12.50 and set an outperform rating for the company in a report on Monday, January 15th. BMO Capital Markets reduced their price objective on Lundin Mining from C$17.00 to C$16.50 in a report on Thursday, May 2nd. Jefferies Financial Group upped their target price on Lundin Mining from C$18.00 to C$20.00 and gave the stock a buy rating in a report on Friday, April 12th. Finally, Eight Capital lowered Lundin Mining from a buy rating to a neutral rating and raised their price target for the company from C$13.00 to C$16.00 in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of C$15.23.

Lundin Mining Stock Up 4.6 %

Shares of TSE:LUN opened at C$15.84 on Friday. The company has a debt-to-equity ratio of 23.15, a current ratio of 1.48 and a quick ratio of 0.90. The business has a 50 day simple moving average of C$13.99 and a two-hundred day simple moving average of C$11.48. Lundin Mining has a 1 year low of C$8.18 and a 1 year high of C$16.51. The firm 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.

Lundin Mining (TSE:LUN) last posted its quarterly earnings data on Wednesday, May 1st. The mining company reported C$0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.10 by C($0.02). Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. The business had revenue of C$1.26 billion for the quarter, compared to analysts’ expectations of C$1.27 billion. On average, equities analysts predict that Lundin Mining will post 0.8396226 EPS for the current year.

Lundin Mining Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.36 annualized dividend and a dividend yield of 2.27%. Lundin Mining’s dividend payout ratio (DPR) is currently 85.71%.

Insider Buying and Selling

In other Lundin Mining news, Senior Officer Annie Laurenson sold 5,200 shares of the company’s stock in a transaction that occurred 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 company 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.