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 hoisted by equities research 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 indicates a potential upside of 10.02% from the stock's previous close.

Several other equities research analysts also recently commented on LUN. Scotiabank boosted their target price on shares of Lundin Mining from C$14.50 to C$16.00 in a research note on Monday, June 16th. 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 report on Friday, August 8th. 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 report on Wednesday, July 9th. BMO Capital Markets raised Lundin Mining to a "strong-buy" rating in a research report on Friday, June 6th. Finally, JPMorgan Chase & Co. downgraded Lundin Mining from an "overweight" rating to a "neutral" rating and upped their price target for the stock from C$15.30 to C$15.60 in a research report on Thursday, July 10th. Three 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$16.48.

Lundin Mining Stock Up 0.9%

TSE LUN traded up C$0.15 during trading on Wednesday, reaching C$16.36. The company's stock had a trading volume of 1,100,575 shares, compared to its average volume of 2,494,130. Lundin Mining has a 1-year low of C$8.94 and a 1-year high of C$17.10. The stock has a market capitalization of C$14.01 billion, a PE ratio of -545.33, a PEG ratio of -0.26 and a beta of 1.55. 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 has a 50-day moving average price of C$14.92 and a 200-day moving average price of C$13.24.

Insiders Place Their Bets

In other Lundin Mining news, insider Nemesia S.a.r.l. acquired 900,000 shares of Lundin Mining stock in a transaction that occurred on Friday, June 13th. The shares were acquired at an average cost of C$14.10 per share, with a total value of C$12,690,000.00. 15.70% of the stock is owned by company insiders.

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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