Lundin Mining (TSE:LUN) Given New C$8.50 Price Target at National Bank Financial
Lundin Mining (TSE:LUN) had its target price cut by National Bank Financial from C$9.00 to C$8.50 in a research report report published on Thursday morning, BayStreet.CA reports. They currently have an outperform rating on the mining company’s stock. National Bank Financial also issued estimates for Lundin Mining’s FY2019 earnings at $0.20 EPS and FY2020 earnings at $0.48 EPS.
A number of other analysts also recently weighed in on LUN. Raymond James restated a market perform rating and issued a C$9.00 target price on shares of Lundin Mining in a report on Friday, July 26th. TD Securities reduced their target price on shares of Lundin Mining from C$9.50 to C$9.00 in a report on Monday, July 22nd. JPMorgan Chase & Co. reduced their target price on shares of Lundin Mining from C$9.00 to C$8.50 in a report on Friday, July 26th. CIBC reduced their target price on shares of Lundin Mining from C$9.00 to C$8.00 in a report on Friday, September 6th. Finally, Cormark boosted their target price on shares of Lundin Mining from C$10.00 to C$10.50 in a report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Lundin Mining has a consensus rating of Buy and an average price target of C$8.76.
Shares of Lundin Mining stock traded up C$0.07 during trading hours on Thursday, reaching C$6.90. The company’s stock had a trading volume of 2,431,021 shares, compared to its average volume of 2,348,715. The firm has a 50 day moving average price of C$6.21 and a 200-day moving average price of C$6.60. Lundin Mining has a one year low of C$4.70 and a one year high of C$7.96. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.49 and a quick ratio of 1.95. The stock has a market cap of $5.04 billion and a P/E ratio of 63.21.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Friday, September 6th will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.74%. Lundin Mining’s dividend payout ratio is presently 82.88%.
In other news, insider Nemesia S.a.r.l. purchased 150,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of C$5.94 per share, with a total value of C$890,790.00. Following the purchase, the insider now owns 93,822,698 shares in the company, valued at C$557,175,474.34.
Lundin Mining Company Profile
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% interests 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 the Candelaria and Ojos del Salado mining complex located in Chile; and 24% interest in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland.
Read More: How to invest in a bear market
Receive News & Ratings for Lundin Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lundin Mining and related companies with MarketBeat.com's FREE daily email newsletter.