Analysts Set Lundin Mining Co. (LUN) Price Target at $8.98
Shares of Lundin Mining Co. (TSE:LUN) have been given a consensus recommendation of “Buy” by the twelve brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is C$8.98.
Several equities analysts have recently issued reports on LUN shares. TD Securities raised Lundin Mining from a “hold” rating to a “buy” rating and cut their price target for the company from C$9.50 to C$8.00 in a research note on Tuesday, November 13th. Raymond James cut their price target on Lundin Mining from C$9.00 to C$8.50 and set a “market perform” rating on the stock in a research note on Friday, October 26th. Eight Capital cut their price target on Lundin Mining from C$11.50 to C$11.00 in a research note on Thursday, November 29th. Barclays reaffirmed an “overweight” rating on shares of Lundin Mining in a research note on Wednesday, October 10th. Finally, National Bank Financial cut their price target on Lundin Mining from C$9.50 to C$8.75 and set an “outperform” rating on the stock in a research note on Monday, November 5th.
In other Lundin Mining news, Director Peter Clark Jones purchased 15,000 shares of the stock in a transaction on Friday, November 9th. The stock was bought at an average cost of C$5.43 per share, for a total transaction of C$81,450.00. Also, insider Jonas Peter Haddoc Richardson sold 8,320 shares of the stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of C$5.49, for a total value of C$45,676.80. Insiders purchased 335,000 shares of company stock valued at $183,850 in the last quarter.
Lundin Mining (TSE:LUN) last posted its quarterly earnings data on Wednesday, October 24th. The mining company reported C$0.01 EPS for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.03). The business had revenue of C$496.23 million during the quarter, compared to the consensus estimate of C$561.99 million. Research analysts anticipate that Lundin Mining will post 0.309999982602042 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 19th. Investors of record on Friday, December 7th were issued a $0.03 dividend. The ex-dividend date was Thursday, December 6th. This represents a $0.12 dividend on an annualized basis and a yield of 2.03%. Lundin Mining’s dividend payout ratio is presently 22.66%.
About Lundin Mining
Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, the United States, Portugal, and Sweden. It primarily produces copper, zinc, and nickel, as well as gold, lead, silver, and other metals. The company holds 100% interest in the Eagle mine located in the United States; the Neves-Corvo mine located in Portugal; and the Zinkgruvan mine located in Sweden, as well as 80% interest in Candelaria and Ojos del Salado mining complex; and 24% interest the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland.
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