Royal Bank of Canada Trims Lundin Mining (TSE:LUN) Target Price to C$16.00

Lundin Mining (TSE:LUN) had its price objective decreased by Royal Bank of Canada from C$20.00 to C$16.00 in a research report released on Tuesday morning, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the mining company’s stock.

Other equities research analysts have also recently issued reports about the stock. CIBC upped their price objective on shares of Lundin Mining from C$16.00 to C$17.00 and gave the stock a neutral rating in a report on Tuesday, August 6th. BMO Capital Markets upped their price target on Lundin Mining from C$16.50 to C$19.50 and gave the stock an outperform rating in a research note on Tuesday, May 21st. Eight Capital raised their price objective on Lundin Mining from C$16.00 to C$17.50 in a research note on Thursday, July 11th. Morgan Stanley increased their price target on Lundin Mining from C$20.00 to C$20.70 in a report on Friday, June 21st. Finally, Scotiabank upgraded shares of Lundin Mining from a sector perform rating to an outperform rating and reduced their price objective for the stock from C$18.00 to C$16.00 in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Lundin Mining currently has an average rating of Hold and an average price target of C$17.51.

Lundin Mining Trading Up 4.2 %

TSE LUN opened at C$12.12 on Tuesday. The firm’s 50 day moving average price is C$13.71 and its two-hundred day moving average price is C$14.37. The company has a debt-to-equity ratio of 24.64, a quick ratio of 0.90 and a current ratio of 1.49. Lundin Mining has a twelve month low of C$8.18 and a twelve month high of C$17.97. The stock has a market cap of C$9.41 billion, a price-to-earnings ratio of 41.54, a PEG ratio of -0.26 and a beta of 1.67.

Lundin Mining (TSE:LUN) last issued its quarterly earnings results on Tuesday, July 30th. The mining company reported C$0.22 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.25 by C($0.03). The business had revenue of C$1.48 billion for the quarter, compared to analysts’ expectations of C$1.51 billion. Lundin Mining had a net margin of 4.21% and a return on equity of 5.04%. Equities analysts anticipate that Lundin Mining will post 0.8613678 EPS for the current year.

Insider Transactions at Lundin Mining

In related news, Director Jack Oliver Lundin bought 65,000 shares of Lundin Mining stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of C$12.55 per share, for a total transaction of C$815,854.00. Insiders own 15.70% of the company’s stock.

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, 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.