Lundin Mining (TSE:LUN) Shares Up 1.1% After Insider Buying Activity

Lundin Mining Co. (TSE:LUN) rose 1.1% during trading on Monday after an insider bought additional shares in the company. The company traded as high as C$10.06 and last traded at C$9.60. Approximately 851,212 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 2,607,199 shares. The stock had previously closed at C$9.50.

Specifically, insider Nemesia S.a.r.l. purchased 2,000,000 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were acquired at an average cost of C$11.35 per share, with a total value of C$22,700,000.00. Also, Director Adam Ian Lundin bought 150,000 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was purchased at an average cost of C$10.82 per share, for a total transaction of C$1,623,000.00.

Analyst Ratings Changes

LUN has been the subject of several recent research reports. Stifel Nicolaus decreased their target price on shares of Lundin Mining from C$17.50 to C$16.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. UBS Group dropped their price target on shares of Lundin Mining from C$17.00 to C$15.50 in a research report on Tuesday, January 7th. Scotiabank lowered shares of Lundin Mining from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Jefferies Financial Group decreased their target price on Lundin Mining from C$20.00 to C$16.00 in a research note on Monday, January 6th. Finally, Desjardins raised Lundin Mining to a “moderate buy” rating in a research report on Thursday, April 3rd. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$17.09.

Lundin Mining Stock Down 5.4 %

The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 41.58. The business has a 50-day simple moving average of C$11.95 and a two-hundred day simple moving average of C$12.88. The stock has a market capitalization of C$5.60 billion, a P/E ratio of 18.20, a PEG ratio of -0.26 and a beta of 1.66.

Lundin Mining Company Profile

Lundin Mining Corp is a diversified Canadian base metals mining company with operations in Brazil Chile Portugal Sweden and the United States of America producing copper zinc gold and nickel. Its material mineral properties include Candelaria Chapada Eagle and Neves-Corvo.