Lundin Mining (TSE:LUN) Stock Rating Upgraded by Canaccord Genuity Group

Key Points

• Canaccord Genuity upgraded Lundin Mining from “hold” to “strong buy.” Across analysts, the stock has a “Moderate Buy” consensus rating and an average price target of C$39.81.
• Lundin Mining shares rose 5.5% to C$29.59 in Thursday trading, with volume above its average.
• The company reported quarterly EPS of C$0.46 and revenue of C$1.58 billion; net margin was 35.11%.

Lundin Mining (TSE:LUN - Get Free Report) was upgraded by research analysts at Canaccord Genuity Group from a "hold" rating to a "strong-buy" rating in a report issued on Thursday, Zacks reports.

Other research analysts have also recently issued reports about the stock. Desjardins lowered their price target on shares of 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. TD cut their price objective on shares of Lundin Mining from C$43.00 to C$42.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Barclays upped their price objective on shares of Lundin Mining from C$42.00 to C$43.00 in a report on Thursday, July 16th. Stifel Nicolaus raised their target price on shares of Lundin Mining from C$40.00 to C$42.00 and gave the company a "buy" rating in a research note on Tuesday, October 20th. Finally, ATB Cormark Capital Markets lowered their target price on shares of Lundin Mining from C$42.50 to C$41.50 and set an "outperform" rating for the company in a report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of C$39.81.

Lundin Mining Stock Up 5.5%

LUN traded up C$1.54 during trading on Thursday, reaching C$29.59. The stock had a trading volume of 3,074,650 shares, compared to its average volume of 2,650,224. The stock's 50 day moving average is C$33.47 and its two-hundred day moving average is C$35.80. The company has a current ratio of 1.60, a quick ratio of 0.90 and a debt-to-equity ratio of 2.88. The company has a market capitalization of C$25.19 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of -0.26 and a beta of 2.16. Lundin Mining has a one year low of C$23.66 and a one year high of C$45.74.

Lundin Mining (TSE:LUN - Get Free Report) last announced its earnings results on Wednesday, November 4th. The mining company reported C$0.46 EPS for the quarter. The firm had revenue of C$1.58 billion for the quarter. Lundin Mining had a net margin of 35.11% and a return on equity of 22.97%.

Lundin Mining Company Profile

Lundin Mining is a Canadian mining company headquartered in Vancouver, Canada with three operating mines in Brazil and Chile. We produce metals that underpin global development, supporting infrastructure, electrification, technological innovation, and economic resilience. Our strategic vision is to become a top ten global copper producer. To get there, we are executing a clear growth strategy, which includes advancing one of the world's largest copper, gold, and silver projects in the Vicuna District on the border of Argentina and Chile, where we hold a 50% interest.

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