Lundin Mining (TSE:LUN) Price Target Raised to C$18.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised its price target for Lundin Mining from C$16.00 to C$18.00, indicating a potential upside of 10.02% from the stock's previous close.
• Multiple analysts have recently increased their target prices for Lundin Mining, with Scotiabank at C$16.00 and TD Securities also targeting C$18.00, reflecting growing positive sentiment towards the stock.
• Lundin Mining's stock has shown growth with a recent trading volume of over 1.1 million shares and a current market capitalization of C$14.01 billion.

Lundin Mining (TSE:LUN - Get Free Report) had its price objective lifted by analysts at Royal Bank Of Canada from C$16.00 to C$18.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Royal Bank Of Canada's price objective points to a potential upside of 7.53% from the stock's current price.

A number of other research firms have also recently weighed in on LUN. BMO Capital Markets raised shares of Lundin Mining to a "strong-buy" rating in a report on Friday, June 6th. Scotiabank lifted their price objective on shares of Lundin Mining from C$14.50 to C$16.00 in a report on Monday, June 16th. TD Securities increased their price objective on shares of Lundin Mining from C$16.00 to C$18.00 and gave the company a "buy" rating in a report on Friday, August 8th. Raymond James Financial increased their price objective on shares of Lundin Mining from C$15.00 to C$16.00 in a report on Thursday, August 21st. Finally, Desjardins set a C$17.00 price objective on shares of Lundin Mining and gave the company a "buy" rating in a report on Thursday, June 19th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Lundin Mining currently has a consensus rating of "Moderate Buy" and a consensus price target of C$16.48.

Lundin Mining Stock Performance

LUN traded up C$0.35 on Wednesday, reaching C$16.74. The stock had a trading volume of 1,937,750 shares, compared to its average volume of 2,490,026. Lundin Mining has a 12-month low of C$8.94 and a 12-month high of C$17.10. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 41.58. The business's 50-day moving average price is C$15.00 and its two-hundred day moving average price is C$13.35. The company has a market cap of C$14.33 billion, a P/E ratio of -558.00, a price-to-earnings-growth ratio of -0.26 and a beta of 1.55.

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.