Lundin Mining (TSE:LUN) Upgraded to Outperform by BMO Capital Markets

BMO Capital Markets upgraded shares of Lundin Mining (TSE:LUN) from a market perform rating to an outperform rating in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has C$16.00 price target on the mining company’s stock, up from their prior price target of C$12.00.

A number of other equities research analysts also recently weighed in on the stock. CIBC reduced their price target on shares of Lundin Mining from C$13.00 to C$12.00 and set a neutral rating on the stock in a research note on Tuesday, January 16th. Stifel Nicolaus set a C$14.50 price objective on Lundin Mining and gave the stock a buy rating in a research report on Tuesday. JPMorgan Chase & Co. reduced their target price on Lundin Mining from C$8.90 to C$8.40 in a report on Friday, January 19th. Raymond James raised their price target on shares of Lundin Mining from C$9.50 to C$11.50 in a report on Wednesday, March 20th. Finally, National Bankshares lowered their target price on shares of Lundin Mining from C$13.00 to C$12.50 and set an outperform rating for the company in a research note on Monday, January 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of C$12.37.

Lundin Mining Stock Up 2.1 %

LUN stock opened at C$13.40 on Wednesday. The company has a market cap of C$10.38 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of -0.26 and a beta of 1.81. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 23.15. Lundin Mining has a 52 week low of C$8.10 and a 52 week high of C$13.80. The business has a 50-day simple moving average of C$11.49 and a 200 day simple moving average of C$10.35.

Lundin Mining (TSE:LUN) last issued its earnings results on Wednesday, February 21st. The mining company reported C$0.14 EPS for the quarter, missing the consensus estimate of C$0.15 by C($0.01). The firm had revenue of C$1.44 billion during the quarter, compared to analyst estimates of C$1.39 billion. Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. Sell-side analysts anticipate that Lundin Mining will post 0.8100183 EPS for the current fiscal year.

Lundin Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $0.36 dividend on an annualized basis and a yield of 2.69%. Lundin Mining’s dividend payout ratio (DPR) is presently 85.71%.

Insider Activity

In related news, Senior Officer Annie Laurenson sold 5,200 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$13.30, for a total value of C$69,160.00. Corporate insiders own 16.06% of the company’s stock.

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, Brazil, the United States, Portugal, Sweden, and Argentina. It primarily produces copper, zinc, gold, nickel, and molybdenum, as well as lead, silver, and other metals.