Lundin Mining (TSE:LUN) Sets New 12-Month High – Time to Buy?

Lundin Mining Co. (TSE:LUN)’s stock price reached a new 52-week high on Wednesday . The company traded as high as C$37.10 and last traded at C$36.81, with a volume of 600138 shares. The stock had previously closed at C$35.57.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LUN. National Bankshares lifted their target price on shares of Lundin Mining from C$20.00 to C$25.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Haywood Securities increased their price target on Lundin Mining from C$28.00 to C$32.00 in a report on Tuesday, December 16th. Morgan Stanley increased their target price on shares of Lundin Mining from C$25.80 to C$29.60 in a research note on Tuesday, December 16th. BMO Capital Markets upped their price objective on Lundin Mining from C$22.00 to C$25.00 in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. decreased their price objective on Lundin Mining from C$28.00 to C$25.40 in a research note on Wednesday, December 3rd. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$31.75.

Lundin Mining Stock Performance

The company has a debt-to-equity ratio of 41.58, a current ratio of 1.40 and a quick ratio of 0.90. The stock has a 50 day moving average of C$28.50 and a two-hundred day moving average of C$21.50. The stock has a market capitalization of C$31.26 billion, a PE ratio of 1,219.67, a P/E/G ratio of -0.26 and a beta of 2.12.

Lundin Mining (TSE:LUN) last issued its earnings results on Wednesday, November 5th. The mining company reported C$0.18 earnings per share for the quarter. Lundin Mining had a net margin of 6.63% and a return on equity of 5.55%. The company had revenue of C$1.40 billion for the quarter.

About Lundin Mining

Lundin Mining Corp is a diversified Canadian base metals mining company with operations in Brazil Chile Portugal Sweden and the United States of America producing copper zinc gold and nickel. Its material mineral properties include Candelaria Chapada Eagle and Neves-Corvo.