Lundin Mining (TSE:LUN) Hits New 52-Week High – Should You Buy?

Lundin Mining Co. (TSE:LUN)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$38.85 and last traded at C$35.94, with a volume of 1296687 shares. The stock had previously closed at C$36.18.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LUN shares. Scotiabank boosted their target price on Lundin Mining from C$25.00 to C$31.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Cormark upgraded Lundin Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, December 22nd. Haywood Securities increased their price objective on Lundin Mining from C$32.00 to C$42.00 in a research report on Friday, January 23rd. Citigroup set a C$32.00 target price on shares of Lundin Mining and gave the stock a “buy” rating in a research report on Monday, December 15th. Finally, Royal Bank Of Canada increased their price target on shares of Lundin Mining from C$23.00 to C$29.00 in a report on Wednesday, December 10th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Lundin Mining has a consensus rating of “Moderate Buy” and an average target price of C$30.46.

Lundin Mining Price Performance

The company has a market capitalization of C$31.00 billion, a price-to-earnings ratio of 1,209.33, a PEG ratio of -0.26 and a beta of 2.12. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 41.58. The company’s 50 day simple moving average is C$29.65 and its 200-day simple moving average is C$22.32.

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