Lundin Mining (TSE:LUN) Hits New 1-Year High on Analyst Upgrade

Lundin Mining Co. (TSE:LUN) reached a new 52-week high during trading on Thursday after Morgan Stanley raised their price target on the stock from C$12.60 to C$16.40. Morgan Stanley currently has an overweight rating on the stock. Lundin Mining traded as high as C$13.84 and last traded at C$13.79, with a volume of 539486 shares traded. The stock had previously closed at C$13.40.

Other research analysts have also recently issued research reports about the stock. Pi Financial restated a “buy” rating on shares of Lundin Mining in a research report on Friday, March 1st. Canaccord Genuity Group reduced their price target on shares of Lundin Mining from C$11.00 to C$10.75 in a research note on Monday, January 22nd. CIBC reduced their price target on shares of Lundin Mining from C$13.00 to C$12.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Raymond James upped their price target on shares of Lundin Mining from C$9.50 to C$11.50 in a research note on Wednesday, March 20th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lundin Mining from C$8.90 to C$8.40 in a research note on Friday, January 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$12.59.

Insider Activity at Lundin Mining

In related news, Senior Officer Annie Laurenson sold 5,200 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$13.30, for a total value of C$69,160.00. 16.06% of the stock is currently owned by company insiders.

Lundin Mining Trading Up 3.4 %

The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 23.15. The business’s fifty day simple moving average is C$11.49 and its two-hundred day simple moving average is C$10.35. The stock has a market capitalization of C$10.73 billion, a P/E ratio of 33.19, a P/E/G ratio of -0.26 and a beta of 1.81.

Lundin Mining (TSE:LUN) last issued its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.01). Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. The company had revenue of C$1.44 billion during the quarter, compared to the consensus estimate of C$1.39 billion. As a group, analysts forecast that Lundin Mining Co. will post 0.8100183 earnings per share for the current year.

Lundin Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Thursday, March 21st. Lundin Mining’s payout ratio is 85.71%.

About Lundin Mining

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, Brazil, the United States, Portugal, Sweden, and Argentina. It primarily produces copper, zinc, gold, nickel, and molybdenum, as well as lead, silver, and other metals.