Canaccord Genuity Group Downgrades Lundin Mining (TSE:LUN) to Hold

Lundin Mining (TSE:LUN) was downgraded by equities research analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

LUN has been the subject of a number of other research reports. National Bank Financial dropped their price objective on shares of Lundin Mining from C$43.50 to C$42.50 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. BMO Capital Markets boosted their target price on Lundin Mining from C$36.00 to C$45.00 in a research report on Wednesday, April 22nd. ATB Cormark Capital Markets increased their price target on shares of Lundin Mining from C$32.50 to C$40.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 24th. TD reduced their price objective on Lundin Mining from C$43.00 to C$42.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Morgan Stanley decreased their price target on shares of Lundin Mining from C$39.70 to C$34.90 in a research note on Thursday, April 9th. Eight analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$39.64.

Lundin Mining Price Performance

Shares of TSE LUN opened at C$37.66 on Thursday. Lundin Mining has a 52 week low of C$14.88 and a 52 week high of C$45.74. The stock has a market capitalization of C$32.15 billion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of -0.26 and a beta of 2.30. The company has a quick ratio of 0.90, a current ratio of 1.81 and a debt-to-equity ratio of 5.55. The firm has a 50-day simple moving average of C$36.30 and a 200-day simple moving average of C$36.53.

Lundin Mining (TSE:LUN) last released its quarterly earnings data on Wednesday, August 5th. The mining company reported C$0.43 EPS for the quarter. Lundin Mining had a net margin of 35.92% and a return on equity of 23.11%. The company had revenue of C$1.72 billion during 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.