Lundin Mining (TSE:LUN) Price Target Raised to C$16.50

Lundin Mining (TSE:LUN) had its price target raised by Canaccord Genuity Group from C$11.00 to C$16.50 in a research report sent to investors on Wednesday, BayStreet.CA reports.

A number of other brokerages have also recently issued reports on LUN. Jefferies Financial Group increased their target price on Lundin Mining from C$18.00 to C$20.00 and gave the stock a buy rating in a report on Friday, April 12th. JPMorgan Chase & Co. lowered their price target on Lundin Mining from C$8.90 to C$8.40 in a research report on Friday, January 19th. Morgan Stanley increased their price target on Lundin Mining from C$12.60 to C$16.40 and gave the company an overweight rating in a research report on Thursday, March 28th. CIBC lowered their price target on Lundin Mining from C$13.00 to C$12.00 and set a neutral rating for the company in a research report on Tuesday, January 16th. Finally, Stifel Nicolaus set a C$14.50 price target on Lundin Mining and gave the company a buy rating in a research report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of C$14.56.

Lundin Mining Price Performance

Shares of LUN opened at C$15.84 on Wednesday. Lundin Mining has a 12-month low of C$8.18 and a 12-month high of C$16.51. The business’s fifty day moving average is C$12.91 and its 200 day moving average is C$10.93. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 23.15. The stock has a market cap of C$12.28 billion, a P/E ratio of 37.71, a P/E/G ratio of -0.26 and a beta of 1.85.

Lundin Mining (TSE:LUN) last issued its earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.01). Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%. The firm had revenue of C$1.44 billion during the quarter, compared to the consensus estimate of C$1.39 billion. Sell-side analysts anticipate that Lundin Mining will post 0.8396226 earnings per share for the current fiscal year.

Lundin Mining Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Thursday, March 21st. Lundin Mining’s dividend payout ratio is presently 85.71%.

Insider Activity

In related news, Senior Officer Annie Laurenson sold 5,200 shares of Lundin Mining stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of C$13.30, for a total value of C$69,160.00. 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.