Lundin Mining (TSE:LUN) Given New C$20.00 Price Target at Morgan Stanley

Lundin Mining (TSE:LUN) had its price objective raised by Morgan Stanley from C$16.40 to C$20.00 in a research report report published on Wednesday morning, BayStreet.CA reports.

A number of other equities analysts have also recently commented on the stock. Bank of America lifted their target price on shares of Lundin Mining from C$12.50 to C$18.50 in a report on Tuesday, April 9th. Canaccord Genuity Group lifted their price objective on shares of Lundin Mining from C$11.00 to C$16.50 in a research note on Wednesday, April 17th. Raymond James increased their target price on shares of Lundin Mining from C$13.00 to C$15.00 in a research note on Wednesday, April 24th. BMO Capital Markets dropped their price target on Lundin Mining from C$17.00 to C$16.50 in a research report on Thursday, May 2nd. Finally, CIBC increased their price objective on Lundin Mining from C$12.00 to C$15.00 and gave the stock a neutral rating in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Lundin Mining has an average rating of Hold and an average target price of C$15.43.

Lundin Mining Price Performance

Shares of LUN opened at C$15.85 on Wednesday. The firm has a fifty day moving average price of C$14.20 and a 200 day moving average price of C$11.56. The stock has a market cap of C$12.29 billion, a PE ratio of 37.74, a price-to-earnings-growth ratio of -0.26 and a beta of 1.85. Lundin Mining has a 1-year low of C$8.18 and a 1-year high of C$16.51. The company has a debt-to-equity ratio of 23.15, a current ratio of 1.48 and a quick ratio of 0.90.

Lundin Mining (TSE:LUN) last announced its earnings results on Wednesday, May 1st. The mining company reported C$0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.10 by C($0.02). The firm had revenue of C$1.26 billion during the quarter, compared to analyst estimates of C$1.27 billion. Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. As a group, sell-side analysts anticipate that Lundin Mining will post 0.8396226 EPS for the current year.

Lundin Mining Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Friday, May 31st will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, May 31st. Lundin Mining’s dividend payout ratio is currently 85.71%.

Insider Buying and Selling

In other Lundin Mining news, Senior Officer Annie Laurenson sold 5,200 shares of the company’s 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. 15.70% of the stock is currently owned by insiders.

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.