Lundin Mining (TSE:LUN) Hits New 1-Year High - Still a Buy?

Key Points

• Lundin Mining shares reached a new 52-week high at C$16.40 during trading, reflecting a rise from a previous close of C$15.87.
• Analysts show strong confidence in Lundin Mining, with multiple upgrades leading to price targets as high as C$18.00 and ratings ranging from "Strong Buy" to "Buy."
• Corporate insider Nemesia S.a.r.l. made a significant purchase of 900,000 shares at an average price of C$14.10, indicating insider confidence in the company's performance.

Lundin Mining Co. (TSE:LUN - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as C$16.40 and last traded at C$16.34, with a volume of 159618 shares trading hands. The stock had previously closed at C$15.87.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LUN shares. Desjardins set a C$17.00 target price on Lundin Mining and gave the company a "buy" rating in a report on Thursday, June 19th. TD Securities upped their price target on Lundin Mining from C$16.00 to C$18.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Morgan Stanley upped their price target on Lundin Mining from C$13.70 to C$14.50 in a research note on Wednesday, August 20th. BMO Capital Markets raised Lundin Mining to a "strong-buy" rating in a research note on Friday, June 6th. Finally, National Bankshares upped their price target on Lundin Mining from C$16.50 to C$17.50 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$16.25.

Lundin Mining Stock Performance

The stock has a market capitalization of C$14.10 billion, a PE ratio of -549.00, a PEG ratio of -0.26 and a beta of 1.54. The business has a 50 day moving average price of C$14.72 and a 200 day moving average price of C$13.11. The company has a debt-to-equity ratio of 41.58, a current ratio of 1.40 and a quick ratio of 0.90.

Insider Activity at Lundin Mining

In related news, insider Nemesia S.a.r.l. bought 900,000 shares of the business's stock in a transaction dated Friday, June 13th. The shares were purchased at an average cost of C$14.10 per share, with a total value of C$12,690,000.00. Corporate insiders own 15.70% of the company's stock.

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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