Lundin Mining (TSE:LUN) Stock Crosses Above 200-Day Moving Average – Here’s Why

Lundin Mining Co. (TSE:LUN)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$36.30 and traded as high as C$37.22. Lundin Mining shares last traded at C$36.24, with a volume of 4,112,714 shares.

Wall Street Analysts Forecast Growth

LUN has been the subject of several recent research reports. Dnb Carnegie raised Lundin Mining to a “hold” rating in a research report on Friday, July 3rd. National Bank Financial dropped their price objective on Lundin Mining from C$43.50 to C$42.50 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. ATB Cormark Capital Markets boosted their target price on shares of Lundin Mining from C$32.50 to C$40.00 and gave the stock an “outperform” rating in a report on Wednesday, June 24th. Scotiabank boosted their target price on shares of Lundin Mining from C$36.00 to C$42.00 and gave the stock a “sector outperform” rating in a report on Monday, June 15th. Finally, TD lowered their price target on shares of Lundin Mining from C$44.00 to C$43.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Lundin Mining presently has an average rating of “Moderate Buy” and a consensus target price of C$39.69.

Lundin Mining Stock Performance

The business has a 50-day moving average price of C$36.89 and a 200-day moving average price of C$36.30. The company has a quick ratio of 0.90, a current ratio of 1.81 and a debt-to-equity ratio of 5.55. The firm has a market capitalization of C$30.68 billion, a price-to-earnings ratio of 21.52, a P/E/G ratio of -0.26 and a beta of 2.32.

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