Lundin Mining (TSE:LUN) Rating Lowered to Neutral at JPMorgan Chase & Co.

Lundin Mining (TSE:LUN - Get Free Report) was downgraded by equities research analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a report released on Thursday,BayStreet.CA reports. They presently have a C$15.60 price objective on the mining company's stock, up from their prior price objective of C$15.30. JPMorgan Chase & Co.'s price target points to a potential upside of 9.86% from the company's previous close.

A number of other research analysts have also recently weighed in on the stock. Scotiabank raised their price objective on shares of Lundin Mining from C$14.50 to C$16.00 in a research note on Monday, June 16th. Raymond James Financial raised shares of Lundin Mining to a "hold" rating in a research note on Monday, June 30th. Morgan Stanley dropped their price objective on shares of Lundin Mining from C$14.80 to C$12.00 in a research note on Wednesday, April 9th. BMO Capital Markets raised shares of Lundin Mining to a "strong-buy" rating in a research note on Friday, June 6th. Finally, UBS Group cut shares of Lundin Mining from a "buy" rating to a "neutral" rating and lowered their target price for the stock from C$13.50 to C$13.00 in a research note on Friday, May 2nd. Six analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$15.86.

Lundin Mining Price Performance

Shares of LUN traded up C$0.09 during mid-day trading on Thursday, reaching C$14.20. 1,328,395 shares of the company's stock were exchanged, compared to its average volume of 2,629,579. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 41.58. The company has a 50-day simple moving average of C$13.42 and a two-hundred day simple moving average of C$12.42. Lundin Mining has a 52-week low of C$8.94 and a 52-week high of C$16.20. The company has a market cap of C$8.68 billion, a price-to-earnings ratio of 28.18, a PEG ratio of -0.26 and a beta of 1.66.

Insider Transactions at Lundin Mining

In related news, Director Jack Oliver Lundin bought 20,000 shares of the stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average price of C$12.65 per share, for a total transaction of C$252,934.00. Also, insider Nemesia S.a.r.l. bought 900,000 shares of the stock in a transaction dated Friday, June 13th. The stock was bought at an average price of C$14.10 per share, with a total value of C$12,690,000.00. 15.70% of the stock is currently owned by company insiders.

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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