Lundin Mining (TSE:LUN) Trading Up 5.1% After Analyst Upgrade

Shares of Lundin Mining Co. (TSE:LUN) were up 5.1% on Wednesday after Raymond James raised their price target on the stock from C$11.50 to C$13.00. Raymond James currently has a market perform rating on the stock. Lundin Mining traded as high as C$16.02 and last traded at C$16.00. Approximately 436,885 shares were traded during trading, a decline of 81% from the average daily volume of 2,264,157 shares. The stock had previously closed at C$15.23.

Other equities research analysts have also issued reports about the stock. Bank of America boosted their target price on shares of Lundin Mining from C$12.50 to C$18.50 in a research note on Tuesday, April 9th. CIBC boosted their target price on shares of Lundin Mining from C$12.00 to C$15.00 and gave the company a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Lundin Mining from C$9.10 to C$15.50 and gave the company a “neutral” rating in a research note on Wednesday. Morgan Stanley boosted their target price on shares of Lundin Mining from C$12.60 to C$16.40 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, BMO Capital Markets upgraded Lundin Mining from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from C$12.00 to C$16.00 in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$14.56.

Insiders Place Their Bets

In other Lundin Mining news, Senior Officer Annie Laurenson sold 5,200 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$13.30, for a total transaction of C$69,160.00. 15.70% of the stock is currently owned by company insiders.

Lundin Mining Price Performance

The firm’s fifty day simple moving average is C$12.80 and its 200 day simple moving average is C$10.89. The firm has a market cap of C$12.44 billion, a P/E ratio of 38.21, a P/E/G ratio of -0.26 and a beta of 1.85. The company has a debt-to-equity ratio of 23.15, a quick ratio of 0.90 and a current ratio of 1.48.

Lundin Mining (TSE:LUN) last released its quarterly earnings data 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). Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. The company had revenue of C$1.44 billion for the quarter, compared to the consensus estimate of C$1.39 billion. As a group, analysts forecast that Lundin Mining Co. will post 0.8396226 earnings per share for the current year.

Lundin Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, March 21st. Lundin Mining’s dividend payout ratio (DPR) is presently 85.71%.

About Lundin Mining

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.