Lundin Mining (TSE:LUN) Given New C$42.00 Price Target at Desjardins

Key Points

• Desjardins raised its price target on Lundin Mining to C$42.00 (from C$35.00) and maintains a "buy" rating, implying about a 16.25% upside from the current share price.
• Analyst consensus is a "Moderate Buy" with an average target of C$34.98; ratings breakdown: 2 Strong Buy, 6 Buy, 6 Hold and 1 Sell.
• LUN traded down to C$36.13 (‑1.7%) with a market cap of C$30.88B and a P/E of 24.25; the company reported last-quarter EPS of C$0.59 on revenue of C$1.51B and a net margin of 33.65%.

Lundin Mining (TSE:LUN - Get Free Report) had its target price increased by equities researchers at Desjardins from C$35.00 to C$42.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the mining company's stock. Desjardins' price target would suggest a potential upside of 16.25% from the company's current price.

LUN has been the subject of several other research reports. Canadian Imperial Bank of Commerce lifted their price target on shares of Lundin Mining from C$30.00 to C$37.00 in a research report on Wednesday, February 4th. Scotiabank upped their price target on Lundin Mining from C$25.00 to C$31.00 and gave the stock an "outperform" rating in a report on Thursday, January 8th. Raymond James Financial lowered their target price on shares of Lundin Mining from C$30.00 to C$27.00 and set a "market perform" rating for the company in a report on Monday, January 26th. Haywood Securities lifted their target price on shares of Lundin Mining from C$32.00 to C$42.00 in a research report on Friday, January 23rd. Finally, Cormark upgraded Lundin Mining from a "hold" rating to a "moderate buy" rating in a research note on Monday, December 22nd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$34.98.

Lundin Mining Trading Down 1.7%

LUN stock traded down C$0.61 during midday trading on Thursday, hitting C$36.13. The stock had a trading volume of 898,703 shares, compared to its average volume of 3,064,681. The business has a fifty day moving average price of C$35.61 and a two-hundred day moving average price of C$27.03. Lundin Mining has a 1-year low of C$8.94 and a 1-year high of C$45.74. The company has a current ratio of 1.64, a quick ratio of 0.90 and a debt-to-equity ratio of 9.31. The firm has a market cap of C$30.88 billion, a P/E ratio of 24.25, a price-to-earnings-growth ratio of -0.26 and a beta of 2.01.

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

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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