Lundin Mining (TSE:LUN) Cut to “Hold” at Canaccord Genuity Group

Lundin Mining (TSE:LUN) was downgraded by stock analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Several other equities analysts have also recently commented on the stock. Morgan Stanley cut their target price on shares of Lundin Mining from C$39.70 to C$34.90 in a research note on Thursday, April 9th. ATB Cormark Capital Markets raised their price target on shares of Lundin Mining from C$32.50 to C$40.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 24th. BMO Capital Markets boosted their price objective on shares of Lundin Mining from C$36.00 to C$45.00 in a report on Wednesday, April 22nd. National Bank Financial cut their price objective on shares of Lundin Mining from C$43.50 to C$42.50 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Finally, Scotiabank increased their target price on shares of Lundin Mining from C$36.00 to C$42.00 and gave the company a “sector outperform” rating in a research note on Monday, June 15th. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$39.64.

Lundin Mining Price Performance

Shares of TSE:LUN opened at C$37.66 on Thursday. The company has a market cap of C$32.15 billion, a price-to-earnings ratio of 22.55, a PEG ratio of -0.26 and a beta of 2.30. The business has a 50 day moving average price of C$36.30 and a 200 day moving average price of C$36.53. The company has a quick ratio of 0.90, a current ratio of 1.81 and a debt-to-equity ratio of 5.55. Lundin Mining has a twelve month low of C$14.88 and a twelve month high of C$45.74.

Lundin Mining (TSE:LUN) last issued its quarterly earnings results on Wednesday, August 5th. The mining company reported C$0.43 EPS for the quarter. Lundin Mining had a return on equity of 23.11% and a net margin of 35.92%.The company had revenue of C$1.72 billion during the quarter.

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.