Lundin Mining (TSE:LUN) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Lundin Mining Co. (TSE:LUN) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$34.65 and traded as high as C$38.57. Lundin Mining shares last traded at C$37.86, with a volume of 2,531,020 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently issued reports on LUN. The Goldman Sachs Group increased their price target on shares of Lundin Mining from C$40.80 to C$48.20 in a research report on Friday, June 5th. Morgan Stanley dropped their price objective on shares of Lundin Mining from C$39.70 to C$34.90 in a research note on Thursday, April 9th. Royal Bank Of Canada increased their target price on shares of Lundin Mining from C$29.00 to C$42.00 in a research report on Thursday, March 12th. TD dropped their price target on shares of Lundin Mining from C$45.00 to C$44.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Finally, BMO Capital Markets increased their price objective on Lundin Mining from C$36.00 to C$45.00 in a report on Wednesday, April 22nd. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$39.15.

Lundin Mining Price Performance

The company has a debt-to-equity ratio of 5.55, a current ratio of 1.81 and a quick ratio of 0.90. The stock has a market capitalization of C$32.38 billion, a P/E ratio of 22.67, a PEG ratio of -0.26 and a beta of 2.24. The stock’s fifty day moving average is C$38.35 and its 200-day moving average is C$34.65.

Lundin Mining (TSE:LUN) last announced its quarterly earnings results on Wednesday, May 6th. The mining company reported C$0.43 earnings per share for the quarter. The company had revenue of C$1.61 billion during the quarter. Lundin Mining had a return on equity of 23.11% and a net margin of 35.92%.

Lundin Mining Company Profile

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.