Lundin Mining (TSE:LUN) Announces Quarterly Earnings Results

Lundin Mining (TSE:LUN) issued its earnings results on Wednesday. The mining company reported C$0.43 EPS for the quarter, FiscalAI reports. The firm had revenue of C$1.61 billion during the quarter. Lundin Mining had a net margin of 33.65% and a return on equity of 21.95%.

Lundin Mining Stock Up 7.7%

LUN traded up C$2.59 during trading on Wednesday, reaching C$36.34. 3,381,580 shares of the stock were exchanged, compared to its average volume of 2,962,952. The stock has a market cap of C$31.09 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of -0.26 and a beta of 2.25. The company has a debt-to-equity ratio of 9.31, a quick ratio of 0.90 and a current ratio of 1.64. The stock’s 50 day moving average price is C$36.58 and its two-hundred day moving average price is C$31.60. Lundin Mining has a twelve month low of C$11.32 and a twelve month high of C$45.74.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. National Bank Financial upped their price objective on shares of Lundin Mining from C$42.00 to C$43.50 and gave the company a “sector perform” rating in a research report on Wednesday, April 15th. Citigroup lifted their price objective on Lundin Mining from C$32.00 to C$41.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Canadian Imperial Bank of Commerce increased their target price on Lundin Mining from C$30.00 to C$37.00 in a research note on Wednesday, February 4th. The Goldman Sachs Group upped their price target on shares of Lundin Mining from C$23.90 to C$35.80 in a report on Tuesday, January 13th. Finally, Morgan Stanley reduced their target price on shares of Lundin Mining from C$39.70 to C$34.90 in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$38.30.

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.