Lundin Mining (TSE:LUN) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Key Points

• Stifel Nicolaus raised Lundin Mining’s price target to C$42 from C$40 and maintained a “buy” rating, implying 25.49% upside from the prior close.
• Analyst sentiment is broadly positive: eight analysts rate the stock “buy,” five “hold,” and one “sell,” resulting in a consensus “Moderate Buy” rating and an average target of C$39.81.
• Lundin Mining reported C$0.43 in quarterly earnings per share on C$1.72 billion in revenue, with a 35.11% net margin and 22.97% return on equity.

Lundin Mining (TSE:LUN - Get Free Report) had its price target raised by equities research analysts at Stifel Nicolaus from C$40.00 to C$42.00 in a research note issued to investors on Tuesday, BayStreet reports. The brokerage currently has a "buy" rating on the mining company's stock. Stifel Nicolaus' price objective suggests a potential upside of 25.49% from the stock's previous close.

A number of other equities research analysts have also issued reports on LUN. Desjardins dropped their price target on Lundin Mining from C$44.00 to C$42.00 and set a "buy" rating for the company in a research report on Thursday, August 20th. National Bank Financial cut their price target on Lundin Mining from C$43.50 to C$42.50 and set a "sector perform" rating for the company in a report on Tuesday, July 14th. TD reduced their price objective on Lundin Mining from C$43.00 to C$42.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Dnb Carnegie upgraded Lundin Mining to a "hold" rating in a research report on Friday, July 3rd. Finally, ATB Cormark Capital Markets lowered their price objective on Lundin Mining from C$42.50 to C$41.50 and set an "outperform" rating on the stock in a research note on Monday, August 24th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Lundin Mining has an average rating of "Moderate Buy" and a consensus target price of C$39.81.

Lundin Mining Price Performance

LUN stock traded up C$0.18 during mid-day trading on Tuesday, reaching C$33.47. The company's stock had a trading volume of 844,359 shares, compared to its average volume of 2,614,881. The stock has a market cap of C$28.49 billion, a PE ratio of 19.13, a P/E/G ratio of -0.26 and a beta of 2.36. The company has a current ratio of 1.60, a quick ratio of 0.90 and a debt-to-equity ratio of 2.88. Lundin Mining has a fifty-two week low of C$20.09 and a fifty-two week high of C$45.74. The company's 50 day moving average is C$35.19 and its two-hundred day moving average is C$36.41.

Lundin Mining (TSE:LUN - Get Free Report) last released its earnings results on Wednesday, August 5th. The mining company reported C$0.43 earnings per share for the quarter. Lundin Mining had a net margin of 35.11% and a return on equity of 22.97%. The business had revenue of C$1.72 billion for the quarter.

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.

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