Stifel Nicolaus Boosts Lundin Mining (TSE:LUN) Price Target to C$18.00

Lundin Mining (TSE:LUNFree Report) had its price target increased by Stifel Nicolaus from C$16.50 to C$18.00 in a research note published on Thursday, BayStreet.CA reports. The brokerage currently has a buy rating on the mining company’s stock.

A number of other equities research analysts have also commented on the stock. Eight Capital lowered shares of Lundin Mining from a buy rating to a neutral rating and upped their price target for the company from C$13.00 to C$16.00 in a report on Monday, April 22nd. Morgan Stanley upped their price objective on shares of Lundin Mining from C$16.40 to C$20.00 in a report on Wednesday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of Lundin Mining from C$9.10 to C$15.50 and gave the stock a neutral rating in a report on Wednesday, April 17th. Royal Bank of Canada upped their price objective on shares of Lundin Mining from C$13.00 to C$17.00 and gave the stock a sector perform rating in a report on Friday, May 3rd. Finally, Bank of America upped their price objective on shares of Lundin Mining from C$12.50 to C$18.50 in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of C$16.17.

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Lundin Mining Price Performance

Shares of Lundin Mining stock opened at C$15.67 on Thursday. Lundin Mining has a 52-week low of C$8.18 and a 52-week high of C$17.97. The stock has a market capitalization of C$12.16 billion, a price-to-earnings ratio of 82.47, a price-to-earnings-growth ratio of -0.26 and a beta of 1.82. The company has a fifty day moving average of C$15.71 and a 200-day moving average of C$12.50. The company has a debt-to-equity ratio of 25.05, a quick ratio of 0.90 and a current ratio of 1.57.

Lundin Mining (TSE:LUNGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The mining company reported C$0.08 EPS for the quarter, missing analysts’ consensus estimates of C$0.10 by C($0.02). Lundin Mining had a net margin of 3.04% and a return on equity of 3.49%. The firm had revenue of C$1.26 billion for the quarter, compared to the consensus estimate of C$1.27 billion. Equities research analysts expect that Lundin Mining will post 0.7934045 EPS for the current year.

Lundin Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Friday, May 31st will be paid a $0.09 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.36 annualized dividend and a dividend yield of 2.30%. Lundin Mining’s payout ratio is 189.47%.

Insider Buying and Selling

In related 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. In related news, Senior Officer Teitur Nolsoe Poulsen sold 8,834 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of C$17.64, for a total transaction of C$155,831.76. Also, Senior Officer Annie Laurenson sold 5,200 shares of the firm’s 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. Insiders sold a total of 26,534 shares of company stock worth $439,992 in the last three months. 15.70% of the stock is owned by corporate insiders.

Lundin Mining Company Profile

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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.

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Analyst Recommendations for Lundin Mining (TSE:LUN)

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