Morgan Stanley Increases Lundin Mining (TSE:LUN) Price Target to C$16.40

Lundin Mining (TSE:LUN) had its target price boosted by equities research analysts at Morgan Stanley from C$16.30 to C$16.40 in a report released on Tuesday, BayStreet.CA reports. Morgan Stanley’s target price would indicate a potential upside of 7.05% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Pi Financial reissued a “buy” rating on shares of Lundin Mining in a research report on Friday, March 1st. 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, March 26th. Raymond James raised their target price on Lundin Mining from C$11.50 to C$13.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. UBS Group lifted their target price on Lundin Mining from C$12.50 to C$18.25 in a research note on Tuesday, April 9th. Finally, Eight Capital lowered shares of Lundin Mining from a “buy” rating to a “neutral” rating and increased their price target for the company from C$13.00 to C$16.00 in a research report on Monday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Lundin Mining presently has an average rating of “Hold” and a consensus price target of C$14.93.

Lundin Mining Stock Up 0.5 %

Shares of TSE:LUN opened at C$15.32 on Tuesday. The business’s 50 day moving average is C$13.27 and its 200 day moving average is C$11.11. Lundin Mining has a 12-month low of C$8.18 and a 12-month high of C$16.51. The stock has a market cap of C$11.88 billion, a price-to-earnings ratio of 36.48, a PEG ratio of -0.26 and a beta of 1.85. 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 (TSE:LUN) last posted its quarterly earnings data on Wednesday, February 21st. The mining company reported C$0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.01). The firm had revenue of C$1.44 billion for the quarter, compared to analysts’ expectations of C$1.39 billion. Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%. On average, sell-side analysts forecast that Lundin Mining will post 0.8396226 earnings per share for the current fiscal year.

Insider Activity

In related news, Senior Officer Annie Laurenson sold 5,200 shares of the company’s stock in a transaction that occurred on 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 owned by company insiders.

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.