Barclays Raises Lundin Mining (TSE:LUN) Price Target to C$43.00

Key Points

• Barclays raised its price target on Lundin Mining to C$43.00 from C$42.00, implying about 28.32% upside from the current share price.
• Analyst sentiment remains mixed but constructive: the stock has 8 Buy ratings, 5 Hold ratings, and 1 Sell rating, with a consensus of Moderate Buy and an average target price of C$39.69.
• Lundin Mining shares recently traded at C$33.51, while the company reported C$0.43 EPS and C$1.61 billion in quarterly revenue in its latest earnings release.

Lundin Mining (TSE:LUN - Get Free Report) had its target price upped by stock analysts at Barclays from C$42.00 to C$43.00 in a report released on Thursday,BayStreet.CA reports. Barclays's price target would indicate a potential upside of 28.32% from the company's current price.

Other equities research analysts have also recently issued research reports about the company. National Bank Financial lowered their price target on Lundin Mining from C$43.50 to C$42.50 and set a "sector perform" rating on the stock in a report on Tuesday. Dnb Carnegie upgraded Lundin Mining to a "hold" rating in a research report on Friday, July 3rd. TD lowered their target price on Lundin Mining from C$44.00 to C$43.00 and set a "buy" rating on the stock in a report on Tuesday. BMO Capital Markets lifted their price target on Lundin Mining from C$36.00 to C$45.00 in a research note on Wednesday, April 22nd. Finally, ATB Cormark Capital Markets boosted their price objective on shares of Lundin Mining from C$32.50 to C$40.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 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 company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$39.69.

Lundin Mining Price Performance

Shares of LUN traded down C$0.96 during trading hours on Thursday, reaching C$33.51. The company had a trading volume of 809,405 shares, compared to its average volume of 2,811,581. The company has a current ratio of 1.81, a quick ratio of 0.90 and a debt-to-equity ratio of 5.55. Lundin Mining has a 12-month low of C$13.37 and a 12-month high of C$45.74. The firm has a 50 day simple moving average of C$37.45 and a 200-day simple moving average of C$36.06. The company has a market capitalization of C$28.61 billion, a price-to-earnings ratio of 20.07, a PEG ratio of -0.26 and a beta of 2.32.

Lundin Mining (TSE:LUN - Get Free Report) last issued its earnings results on Wednesday, May 6th. The mining company reported C$0.43 earnings per share for the quarter. Lundin Mining had a net margin of 35.92% and a return on equity of 23.11%. The company had revenue of C$1.61 billion for the quarter.

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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