Royal Bank Of Canada Forecasts Strong Price Appreciation for Lundin Mining (TSE:LUN) Stock

Lundin Mining (TSE:LUN) had its price target lifted by investment analysts at Royal Bank Of Canada from C$16.00 to C$18.00 in a report issued on Wednesday,BayStreet.CA reports. Royal Bank Of Canada’s target price would indicate a potential upside of 9.76% from the company’s previous close.

Several other brokerages have also issued reports on LUN. TD Securities raised their price objective on Lundin Mining from C$16.00 to C$18.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Dnb Nor Markets raised Lundin Mining to a “hold” rating in a report on Tuesday, June 17th. Raymond James Financial raised their price objective on Lundin Mining from C$15.00 to C$16.00 in a report on Thursday, August 21st. Scotiabank raised their price objective on Lundin Mining from C$14.50 to C$16.00 in a report on Monday, June 16th. Finally, Desjardins set a C$17.00 price objective on Lundin Mining and gave the stock a “buy” rating in a report on Thursday, June 19th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$16.48.

Lundin Mining Stock Performance

Shares of LUN stock opened at C$16.40 on Wednesday. The stock’s 50-day moving average is C$14.97 and its two-hundred day moving average is C$13.29. The firm has a market cap of C$14.04 billion, a price-to-earnings ratio of -546.67, a PEG ratio of -0.26 and a beta of 1.55. Lundin Mining has a 1 year low of C$8.94 and a 1 year high of C$17.10. The company has a debt-to-equity ratio of 41.58, a quick ratio of 0.90 and a current ratio of 1.40.

About Lundin Mining

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.