Lundin Mining (TSE:LUN) Price Target Lowered to C$9.50 at CIBC

Lundin Mining (TSE:LUNGet Rating) had its price target decreased by CIBC from C$11.00 to C$9.50 in a research report report published on Tuesday, BayStreet.CA reports.

LUN has been the topic of several other research reports. JPMorgan Chase & Co. reduced their price objective on shares of Lundin Mining from C$14.30 to C$12.60 in a research report on Monday, July 4th. Stifel Nicolaus reduced their price objective on shares of Lundin Mining from C$14.00 to C$12.50 in a research report on Friday, July 29th. Royal Bank of Canada reduced their price objective on shares of Lundin Mining from C$14.00 to C$10.00 and set a sector perform rating on the stock in a research report on Friday, July 29th. CSFB cut shares of Lundin Mining from a buy rating to a hold rating and reduced their price objective for the company from C$15.00 to C$9.00 in a research report on Friday, July 22nd. Finally, Canaccord Genuity Group upgraded shares of Lundin Mining to a buy rating and set a C$14.00 price objective on the stock in a research report on Thursday, April 28th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of C$13.78.

Lundin Mining Price Performance

TSE LUN opened at C$6.85 on Tuesday. Lundin Mining has a 12 month low of C$6.57 and a 12 month high of C$14.00. The stock has a market cap of C$5.33 billion and a price-to-earnings ratio of 3.94. The company’s 50 day moving average is C$8.62 and its two-hundred day moving average is C$10.70. The company has a current ratio of 1.50, a quick ratio of 1.14 and a debt-to-equity ratio of 0.52.

Lundin Mining (TSE:LUNGet Rating) last released its earnings results on Wednesday, July 27th. The mining company reported C($0.06) EPS for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.21). The business had revenue of C$753.31 million for the quarter, compared to the consensus estimate of C$841.10 million. As a group, research analysts anticipate that Lundin Mining will post 1.1032024 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Nemesia S.a.r.l. bought 100,000 shares of the stock in a transaction dated Wednesday, May 25th. The stock was purchased at an average cost of C$10.89 per share, with a total value of C$1,088,800.00. Following the completion of the purchase, the insider now owns 96,272,698 shares of the company’s stock, valued at C$1,048,217,135.82. Insiders bought 1,723,400 shares of company stock valued at $17,309,252 over the last three months.

About Lundin Mining

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Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Brazil, Chile, Portugal, Sweden, and the United States. It primarily produces copper, zinc, nickel, and gold, as well as lead, silver, and other metals. The company holds 100% interests in the Chapada mine located in Brazil; the Neves-Corvo mine located in Portugal; the Eagle mine located in the United States; and the Zinkgruvan mine located in Sweden.

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