ATB Cormark Capital Markets Cuts Lundin Mining (TSE:LUN) Price Target to C$41.50

Key Points

• ATB Cormark lowered Lundin Mining’s price target from C$42.50 to C$41.50 but maintained an “outperform” rating, implying 8.92% potential upside.
• Analyst sentiment is mixed: eight analysts rate the stock a Buy, six a Hold and one a Sell, with a consensus rating of “Hold” and an average target of C$39.71.
• Lundin Mining shares rose 0.1% to C$38.10. In its latest quarter, the company reported C$0.43 in EPS and C$1.72 billion in revenue.

Lundin Mining (TSE:LUN - Get Free Report) had its target price cut by analysts at ATB Cormark Capital Markets from C$42.50 to C$41.50 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the mining company's stock. ATB Cormark Capital Markets' price objective would suggest a potential upside of 8.92% from the stock's current price.

Several other brokerages have also recently commented on LUN. Barclays boosted their price target on shares of Lundin Mining from C$42.00 to C$43.00 in a research report on Thursday, July 16th. Canaccord Genuity Group lowered shares of Lundin Mining from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. Scotiabank lifted their price objective on shares of Lundin Mining from C$36.00 to C$42.00 and gave the company a "sector outperform" rating in a research report on Monday, June 15th. Dnb Carnegie raised Lundin Mining to a "hold" rating in a report on Friday, July 3rd. Finally, Desjardins lowered their price target on shares of Lundin Mining from C$44.00 to C$42.00 and set a "buy" rating on the stock in a report on Thursday. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of C$39.71.

Lundin Mining Stock Up 0.1%

Shares of TSE:LUN traded up C$0.03 during mid-day trading on Monday, reaching C$38.10. 751,323 shares of the stock were exchanged, compared to its average volume of 2,743,160. The stock's 50 day simple moving average is C$35.68 and its 200-day simple moving average is C$36.61. Lundin Mining has a one year low of C$15.47 and a one year high of C$45.74. The company has a market cap of C$32.43 billion, a P/E ratio of 21.77, a P/E/G ratio of -0.26 and a beta of 2.30. The company has a quick ratio of 0.90, a current ratio of 1.60 and a debt-to-equity ratio of 2.88.

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

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.

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