Lundin Mining (TSE:LUN) Downgraded to "Hold" Rating by Canaccord Genuity Group

Key Points

• Canaccord Genuity downgraded Lundin Mining from “strong buy” to “hold,” while the broader analyst consensus is also “hold” with a C$39.64 price target.
• Other analysts have raised their price targets recently, including Goldman Sachs to C$48.20 and Scotiabank to C$42.00; eight analysts rate the stock “buy,” six “hold,” and one “sell.”
• Lundin Mining reported quarterly EPS of C$0.43 on revenue of C$1.72 billion, with a 35.92% net margin and 23.11% return on equity. Shares opened at C$37.66, near their 50-day and 200-day moving averages.

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

Several other analysts also recently commented on LUN. BMO Capital Markets boosted their target price on shares of Lundin Mining from C$36.00 to C$45.00 in a research report on Wednesday, April 22nd. The Goldman Sachs Group raised their price target on shares of Lundin Mining from C$40.80 to C$48.20 in a report on Friday, June 5th. Scotiabank upped their price objective on shares of Lundin Mining from C$36.00 to C$42.00 and gave the stock a "sector outperform" rating in a report on Monday, June 15th. ATB Cormark Capital Markets increased their target price 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. Finally, Dnb Carnegie raised shares of Lundin Mining to a "hold" rating in a research report on Friday, July 3rd. Eight analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of C$39.64.

Lundin Mining Price Performance

Shares of TSE:LUN opened at C$37.66 on Thursday. The firm has a market cap of C$32.15 billion, a price-to-earnings ratio of 22.55, a P/E/G ratio of -0.26 and a beta of 2.30. Lundin Mining has a 1 year low of C$14.88 and a 1 year high of C$45.74. The company has a current ratio of 1.81, a quick ratio of 0.90 and a debt-to-equity ratio of 5.55. The business has a fifty day simple moving average of C$36.30 and a 200 day simple moving average of C$36.53.

Lundin Mining (TSE:LUN - Get Free Report) last issued its earnings results on Wednesday, August 5th. The mining company reported C$0.43 EPS for the quarter. The firm had revenue of C$1.72 billion for the quarter. Lundin Mining had a return on equity of 23.11% and a net margin of 35.92%.

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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