BMO Capital Markets Issues Positive Forecast for Lundin Mining (TSE:LUN) Stock Price

Key Points

• BMO Capital Markets raised its target price on Lundin Mining from C$36.00 to C$45.00, implying a potential upside of 18.17% from the current share price.
• Analyst views are mixed but skew positive — MarketBeat shows one Strong Buy, seven Buy, six Hold and one Sell, with a consensus rating of "Moderate Buy" and a consensus price target of C$36.97.
• Shares traded at C$38.08 (up ~2%) with a market cap of C$32.55 billion; Lundin reported solid quarterly results including C$0.59 EPS, C$1.51 billion revenue and a 33.65% net margin.

Lundin Mining (TSE:LUN - Get Free Report) had its target price raised by investment analysts at BMO Capital Markets from C$36.00 to C$45.00 in a note issued to investors on Wednesday,BayStreet.CA reports. BMO Capital Markets' target price suggests a potential upside of 18.17% from the stock's current price.

A number of other analysts have also issued reports on LUN. TD Securities lifted their target price on Lundin Mining from C$42.00 to C$45.00 and gave the stock a "buy" rating in a research report on Monday, February 23rd. Ci Capital lifted their target price on Lundin Mining from C$32.00 to C$41.00 in a research report on Wednesday, February 11th. JPMorgan Chase & Co. lowered Lundin Mining from a "neutral" rating to an "underweight" rating and dropped their target price for the stock from C$32.90 to C$28.20 in a research report on Monday, March 9th. Desjardins lifted their target price on Lundin Mining from C$35.00 to C$42.00 and gave the stock a "buy" rating in a research report on Thursday, March 12th. Finally, TD lowered their price objective on Lundin Mining from C$45.00 to C$44.00 and set a "buy" rating for the company in a report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of C$36.97.

Lundin Mining Stock Up 2.0%

Shares of TSE LUN traded up C$0.73 during midday trading on Wednesday, reaching C$38.08. 1,181,037 shares of the company's stock were exchanged, compared to its average volume of 2,885,560. Lundin Mining has a 52-week low of C$11.04 and a 52-week high of C$45.74. The stock has a market capitalization of C$32.55 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of -0.26 and a beta of 2.22. The company has a debt-to-equity ratio of 9.31, a quick ratio of 0.90 and a current ratio of 1.64. The business's fifty day moving average price is C$36.57 and its two-hundred day moving average price is C$30.79.

Lundin Mining (TSE:LUN - Get Free Report) last announced its earnings results on Friday, February 20th. The mining company reported C$0.59 earnings per share (EPS) for the quarter. Lundin Mining had a return on equity of 21.95% and a net margin of 33.65%.The business had revenue of C$1.51 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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