National Bank Financial Trims Lundin Mining (TSE:LUN) Target Price to C$8.50

Lundin Mining (TSE:LUN) had its price objective decreased by equities researchers at National Bank Financial from C$9.00 to C$8.50 in a research report issued on Thursday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the mining company’s stock. National Bank Financial’s price target would suggest a potential upside of 24.27% from the company’s previous close.

LUN has been the topic of several other research reports. Bank of America cut their price objective on Lundin Mining from C$9.00 to C$8.25 in a research report on Friday, August 16th. CIBC cut their price objective on Lundin Mining from C$9.00 to C$8.00 in a research report on Friday, September 6th. Cormark upped their price objective on Lundin Mining from C$10.00 to C$10.50 in a research report on Tuesday, July 23rd. TD Securities cut their price objective on Lundin Mining from C$9.50 to C$9.00 in a research report on Monday, July 22nd. Finally, Raymond James reaffirmed a “market perform” rating and issued a C$9.00 price objective on shares of Lundin Mining in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of C$8.76.

Lundin Mining stock traded down C$0.13 during mid-day trading on Thursday, hitting C$6.84. The company’s stock had a trading volume of 2,168,549 shares, compared to its average volume of 2,344,859. The company has a 50 day moving average of C$6.21 and a 200-day moving average of C$6.60. The stock has a market cap of $5.04 billion and a PE ratio of 62.75. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.95 and a current ratio of 2.49. Lundin Mining has a one year low of C$4.70 and a one year high of C$7.96.

Lundin Mining (TSE:LUN) last announced its quarterly earnings data on Wednesday, July 24th. The mining company reported C($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.07 by C($0.08). The business had revenue of C$493.94 million during the quarter. On average, equities research analysts forecast that Lundin Mining will post 0.57 EPS for the current fiscal year.

In other news, insider Nemesia S.a.r.l. bought 150,000 shares of the stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of C$5.94 per share, for a total transaction of C$890,790.00. Following the acquisition, the insider now owns 93,822,698 shares of the company’s stock, valued at C$557,175,474.34.

Lundin Mining Company Profile

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, the United States, Portugal, and Sweden. It primarily produces copper, zinc, and nickel, as well as gold, lead, silver, and other metals. The company holds 100% interests in the Eagle mine located in the United States; the Neves-Corvo mine located in Portugal; and the Zinkgruvan mine located in Sweden, as well as 80% interest in the Candelaria and Ojos del Salado mining complex located in Chile; and 24% interest in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland.

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Analyst Recommendations for Lundin Mining (TSE:LUN)

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