TD Securities Lowers Lundin Mining (TSE:LUN) Price Target to C$9.00

Lundin Mining (TSE:LUN) had its price target reduced by TD Securities from C$9.50 to C$9.00 in a report issued on Monday, July 22nd, BayStreet.CA reports.

A number of other equities research analysts have also recently commented on the stock. Raymond James lifted their price target on shares of Lundin Mining from C$8.50 to C$9.50 and gave the stock a market perform rating in a report on Friday, April 26th. CSFB lowered their price target on shares of Lundin Mining from C$9.75 to C$9.00 in a report on Wednesday, July 10th. Eight Capital lifted their price objective on shares of Lundin Mining from C$10.00 to C$11.00 in a research note on Tuesday, April 16th. National Bank Financial reduced their price objective on shares of Lundin Mining from C$11.00 to C$10.00 and set an outperform rating for the company in a research note on Friday, June 28th. Finally, Royal Bank of Canada lifted their price objective on shares of Lundin Mining from C$8.00 to C$9.00 and gave the company an outperform rating in a research note on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of C$9.03.

TSE:LUN opened at C$6.20 on Monday. 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 company has a market cap of $4.33 billion and a PE ratio of 56.88. The business has a 50 day moving average of C$6.73. Lundin Mining has a 12 month low of C$4.70 and a 12 month high of C$7.96.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Friday, September 6th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.12 dividend on an annualized basis and a yield of 1.94%. Lundin Mining’s dividend payout ratio is 110.09%.

In other news, insider Nemesia S.a.r.l. purchased 150,000 shares of Lundin Mining stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of C$5.94 per share, for a total transaction of C$890,790.00. Following the transaction, the insider now directly owns 93,822,698 shares of the company’s stock, 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.

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