CIBC Forecasts Strong Price Appreciation for Lundin Mining (TSE:LUN) Stock

Lundin Mining (TSE:LUN) had its target price boosted by analysts at CIBC from C$30.00 to C$37.00 in a research note issued on Wednesday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 13.22% from the company’s current price.

Several other equities research analysts have also commented on LUN. National Bankshares upped their price target on shares of Lundin Mining from C$30.00 to C$40.00 in a research report on Thursday, January 29th. Desjardins boosted their price target on Lundin Mining from C$30.00 to C$35.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Raymond James Financial dropped their price objective on shares of Lundin Mining from C$30.00 to C$27.00 and set a “market perform” rating for the company in a report on Monday, January 26th. Morgan Stanley raised their target price on shares of Lundin Mining from C$25.80 to C$29.60 in a report on Tuesday, December 16th. Finally, The Goldman Sachs Group boosted their target price on Lundin Mining from C$23.90 to C$35.80 in a research report on Tuesday, January 13th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$31.75.

Lundin Mining Price Performance

Shares of LUN stock traded down C$3.81 during trading hours on Wednesday, hitting C$32.68. 2,522,533 shares of the company’s stock were exchanged, compared to its average volume of 2,962,497. The company has a market capitalization of C$27.92 billion, a PE ratio of 1,089.33, a PEG ratio of -0.26 and a beta of 2.08. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 41.58. Lundin Mining has a 12-month low of C$8.94 and a 12-month high of C$38.85. The business’s 50 day simple moving average is C$30.52 and its 200-day simple moving average is C$23.00.

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

About Lundin Mining

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.