Lundin Mining (TSE:LUN) Reaches New 12-Month High - Still a Buy?

Key Points

• Lundin Mining (TSE:LUN) reached a new 12-month high of C$17.10 during trading, but last traded at C$16.52 with a volume of over 823,000 shares.
• Analysts have mixed ratings for Lundin Mining, with three giving a Strong Buy rating and a consensus price target of C$16.25, reflecting a Moderate Buy sentiment.
• Insider activity has been noted, with Nemesia S.a.r.l. purchasing 900,000 shares at C$14.10 each, indicating confidence in the company's future prospects.

Shares of Lundin Mining Co. (TSE:LUN - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$17.10 and last traded at C$16.52, with a volume of 823602 shares changing hands. The stock had previously closed at C$16.17.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LUN. Dnb Nor Markets upgraded Lundin Mining to a "hold" rating in a research note on Tuesday, June 17th. TD Securities upped their price objective 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. JPMorgan Chase & Co. downgraded Lundin Mining from an "overweight" rating to a "neutral" rating and upped their price objective for the stock from C$15.30 to C$15.60 in a research note on Thursday, July 10th. Desjardins set a C$17.00 price objective on Lundin Mining and gave the stock a "buy" rating in a research note on Thursday, June 19th. Finally, Royal Bank Of Canada set a C$16.00 price target on Lundin Mining and gave the stock a "sector perform" rating in a research note on Thursday, June 19th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$16.25.

Lundin Mining Price Performance

The company has a 50 day moving average of C$14.88 and a two-hundred day moving average of C$13.22. The firm has a market cap of C$14.26 billion, a P/E ratio of -555.33, a PEG ratio of -0.26 and a beta of 1.55. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 41.58.

Insider Activity at Lundin Mining

In related news, insider Nemesia S.a.r.l. bought 900,000 shares of Lundin Mining stock in a transaction dated Friday, June 13th. The stock was 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 currently owned by corporate 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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