Lundin Mining (TSE:LUN) Trading 6.8% Higher – Here’s Why

by · The Markets Daily

Lundin Mining Co. (TSE:LUN – Get Free Report) shares were up 6.8% during mid-day trading on Friday . The company traded as high as C$10.16 and last traded at C$10.16. Approximately 1,371,616 shares were traded during trading, a decline of 49% from the average daily volume of 2,715,302 shares. The stock had previously closed at C$9.51.

Analyst Ratings Changes

Several analysts have commented on the stock. Scotiabank cut shares of Lundin Mining from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Desjardins upgraded shares of Lundin Mining to a “moderate buy” rating in a research report on Thursday, April 3rd. National Bankshares increased their price target on Lundin Mining from C$17.00 to C$17.50 and gave the stock an “outperform” rating in a research report on Wednesday, April 2nd. The Goldman Sachs Group set a C$16.60 price objective on Lundin Mining and gave the company a “buy” rating in a report on Thursday, March 6th. Finally, Stifel Canada raised Lundin Mining to a “strong-buy” rating in a report on Wednesday, March 19th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$16.46.

Read Our Latest Report on LUN

Lundin Mining Stock Up 8.6 %

The company has a debt-to-equity ratio of 41.58, a current ratio of 1.40 and a quick ratio of 0.90. The firm has a market cap of C$6.31 billion, a PE ratio of 20.50, a PEG ratio of -0.26 and a beta of 1.66. The business’s 50 day moving average price is C$11.87 and its 200 day moving average price is C$12.82.

Insider Activity

In other Lundin Mining news, insider Nemesia S.a.r.l. purchased 2,000,000 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average cost of C$11.35 per share, with a total value of C$22,700,000.00. Also, Director Adam Ian Lundin acquired 150,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average cost of C$10.82 per share, with a total value of C$1,623,000.00. Company insiders own 15.70% of the company’s stock.

About Lundin Mining

(Get Free Report)

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.

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