Lundin Mining (TSE:LUN) Upgraded to “Buy” at Haywood Securities

Haywood Securities upgraded shares of Lundin Mining (TSE:LUN) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat.com reports. Haywood Securities currently has C$17.00 price target on the mining company’s stock.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Lundin Mining from C$18.80 to C$18.20 in a research note on Thursday, August 1st. Jefferies Financial Group upped their target price on Lundin Mining from C$18.00 to C$20.00 and gave the company a buy rating in a research report on Friday, April 12th. Ventum Financial lifted their price target on Lundin Mining from C$19.00 to C$20.00 in a research report on Tuesday, May 28th. Canaccord Genuity Group cut their price objective on Lundin Mining from C$17.50 to C$16.50 in a report on Monday, July 22nd. Finally, Morgan Stanley raised their price objective on Lundin Mining from C$20.00 to C$20.70 in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Lundin Mining presently has an average rating of Hold and a consensus target price of C$17.45.

Lundin Mining Stock Performance

Shares of LUN opened at C$12.47 on Tuesday. Lundin Mining has a 12 month low of C$8.18 and a 12 month high of C$17.97. The stock has a fifty day moving average price of C$14.80 and a 200-day moving average price of C$14.05. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 24.64. The firm has a market cap of C$9.69 billion, a PE ratio of 43.00, a P/E/G 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 return on equity of 5.04% and a net margin of 4.21%. Equities research analysts predict that Lundin Mining will post 0.9811172 earnings per share for the current fiscal year.

Insider Buying and Selling at Lundin Mining

In other news, Senior Officer Teitur Nolsoe Poulsen sold 8,834 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of C$17.64, for a total transaction of C$155,831.76. In related news, Senior Officer Teitur Nolsoe Poulsen sold 8,834 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of C$17.64, for a total value of C$155,831.76. Also, Senior Officer Annie Laurenson sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of C$17.20, for a total value of C$215,000.00. 15.70% of the stock is owned by corporate insiders.

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.