Lundin Mining (TSE:LUN) Hits New 1-Year High Following Analyst Upgrade

Shares of Lundin Mining Co. (TSE:LUN) reached a new 52-week high during trading on Monday after The Goldman Sachs Group raised their price target on the stock from C$23.90 to C$35.80. The stock traded as high as C$34.02 and last traded at C$33.78, with a volume of 199498 shares changing hands. The stock had previously closed at C$32.79.

A number of other equities analysts also recently commented on LUN. Cormark upgraded shares of Lundin Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, December 22nd. Citigroup set a C$32.00 price target on shares of Lundin Mining and gave the stock a “buy” rating in a research note on Monday, December 15th. Royal Bank Of Canada increased their price target on shares of Lundin Mining from C$23.00 to C$29.00 in a report on Wednesday, December 10th. Haywood Securities lifted their price objective on Lundin Mining from C$28.00 to C$32.00 in a report on Tuesday, December 16th. Finally, TD Securities boosted their target price on Lundin Mining from C$26.00 to C$28.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Lundin Mining presently has an average rating of “Moderate Buy” and a consensus price target of C$27.34.

Lundin Mining Stock Performance

The stock’s fifty day simple moving average is C$27.48 and its 200-day simple moving average is C$20.79. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 41.58. The company has a market capitalization of C$28.50 billion, a PE ratio of 1,112.00, a PEG ratio of -0.26 and a beta of 2.12.

Lundin Mining (TSE:LUN) last released its quarterly earnings results on Wednesday, November 5th. The mining company reported C$0.18 earnings per share for the quarter. Lundin Mining had a return on equity of 5.55% and a net margin of 6.63%.The business had revenue of C$1.40 billion for the quarter.

Lundin Mining Company Profile

Lundin Mining Corp is a diversified Canadian base metals mining company with operations in Brazil Chile Portugal Sweden and the United States of America producing copper zinc gold and nickel. Its material mineral properties include Candelaria Chapada Eagle and Neves-Corvo.