Lundin Mining (TSE:LUN) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Lundin Mining Co. (TSE:LUN)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$35.84 and traded as low as C$33.06. Lundin Mining shares last traded at C$33.26, with a volume of 1,983,169 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LUN shares. TD lowered their target price on Lundin Mining from C$45.00 to C$44.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Barclays set a C$42.00 price target on Lundin Mining and gave the company an “equal weight” rating in a research note on Friday, May 22nd. BMO Capital Markets raised their price target on Lundin Mining from C$36.00 to C$45.00 in a report on Wednesday, April 22nd. Scotiabank lifted their price objective on Lundin Mining from C$36.00 to C$42.00 and gave the stock a “sector outperform” rating in a research report on Monday, June 15th. Finally, National Bank Financial lifted their price objective on Lundin Mining from C$42.00 to C$43.50 and gave the stock a “sector perform” rating in a research report on Wednesday, April 15th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$39.74.

Lundin Mining Trading Up 7.0%

The business’s 50-day moving average price is C$37.46 and its two-hundred day moving average price is C$35.91. The company has a market capitalization of C$29.45 billion, a P/E ratio of 20.65, a PEG ratio of -0.26 and a beta of 2.32. The company has a debt-to-equity ratio of 5.55, a current ratio of 1.81 and a quick ratio of 0.90.

Lundin Mining (TSE:LUN) last released its quarterly earnings data on Wednesday, May 6th. The mining company reported C$0.43 EPS for the quarter. The business had revenue of C$1.61 billion during the quarter. Lundin Mining had a net margin of 35.92% and a return on equity of 23.11%.

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.