Lundin Mining’s (LUN) Equal Weight Rating Reiterated at Morgan Stanley
Morgan Stanley reaffirmed their equal weight rating on shares of Lundin Mining (TSE:LUN – Get Rating) in a research report released on Friday morning, MarketBeat reports. Morgan Stanley currently has a C$12.30 target price on the mining company’s stock.
A number of other research firms have also recently weighed in on LUN. CIBC raised their price objective on Lundin Mining from C$11.00 to C$13.00 and gave the stock a neutral rating in a research report on Friday, February 18th. Credit Suisse Group raised their price objective on Lundin Mining to C$14.00 and gave the stock a neutral rating in a research report on Thursday, April 21st. TD Securities lifted their price target on Lundin Mining from C$12.50 to C$15.00 and gave the stock a buy rating in a research report on Friday, April 29th. BMO Capital Markets began coverage on Lundin Mining in a research report on Monday, May 2nd. They set a buy rating and a C$16.50 price target for the company. Finally, Stifel Nicolaus raised Lundin Mining to a buy rating and set a C$14.00 price target for the company in a research report on Friday, April 29th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of C$13.58.
Lundin Mining stock opened at C$9.82 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.94 and a quick ratio of 1.60. The stock has a market capitalization of C$7.65 billion and a price-to-earnings ratio of 7.16. Lundin Mining has a 1-year low of C$8.56 and a 1-year high of C$14.61. The business has a fifty day moving average price of C$12.29 and a 200-day moving average price of C$11.31.
Lundin Mining (TSE:LUN – Get Rating) last posted its quarterly earnings data on Thursday, February 17th. The mining company reported C$0.48 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.41 by C$0.07. The business had revenue of C$1.28 billion during the quarter. On average, equities research analysts anticipate that Lundin Mining will post 12.0600003 earnings per share for the current fiscal year.
In other Lundin Mining news, Senior Officer Annie Laurenson purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 28th. The stock was purchased at an average price of C$5.50 per share, for a total transaction of C$55,000.00. Following the purchase, the insider now directly owns 43,333 shares in the company, valued at C$238,331.50. Also, Senior Officer Jinhee Magie sold 50,000 shares of Lundin Mining stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of C$11.66, for a total value of C$583,175.00. Following the completion of the transaction, the insider now owns 199,263 shares of the company’s stock, valued at approximately C$2,324,104.
Lundin Mining Company Profile (Get Rating)
Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Brazil, Chile, Portugal, Sweden, and the United States. It primarily produces copper, zinc, nickel, and gold, as well as lead, silver, and other metals. The company holds 100% interests in the Chapada mine located in Brazil; the Neves-Corvo mine located in Portugal; the Eagle mine located in the United States; and the Zinkgruvan mine located in Sweden.
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