Lundin Mining (TSE:LUN) Reaches New 52-Week High - Should You Buy?

Key Points

• Lundin Mining reached a new 52-week high at C$15.42, with recent trading at C$15.36, marking a significant increase from the previous closing price of C$14.16.
• Analysts have mixed opinions on the stock, with BMO Capital Markets issuing a "strong-buy" rating, while JPMorgan lowered its rating to "neutral," but raised its target price to C$15.60.
• Insider activity is notable, with Director Jack Oliver Lundin purchasing 20,000 shares at C$12.65 each, and another insider acquiring 900,000 shares at C$14.10, indicating confidence in the company's future.

Lundin Mining Co. (TSE:LUN - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The company traded as high as C$15.42 and last traded at C$15.36, with a volume of 635983 shares changing hands. The stock had previously closed at C$14.16.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on LUN shares. BMO Capital Markets upgraded Lundin Mining to a "strong-buy" rating in a research report on Friday, June 6th. TD Securities increased their price objective on Lundin Mining from C$16.00 to C$18.00 and gave the company a "buy" rating in a research report on Friday. Desjardins set a C$17.00 price objective on Lundin Mining and gave the company a "buy" rating in a research report on Thursday, June 19th. JPMorgan Chase & Co. downgraded Lundin Mining from an "overweight" rating to a "neutral" rating and increased their price objective for the company from C$15.30 to C$15.60 in a research report on Thursday, July 10th. Finally, UBS Group downgraded Lundin Mining from a "buy" rating to a "neutral" rating and cut their price objective for the company from C$13.50 to C$13.00 in a research report on Friday, May 2nd. Five analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Lundin Mining currently has an average rating of "Moderate Buy" and an average price target of C$18.90.

Lundin Mining Stock Performance

The firm's 50 day simple moving average is C$14.19 and its 200-day simple moving average is C$12.70. The company has a debt-to-equity ratio of 41.58, a quick ratio of 0.90 and a current ratio of 1.40. The company has a market capitalization of C$9.39 billion, a price-to-earnings ratio of 30.50, a P/E/G ratio of -0.26 and a beta of 1.66.

Insiders Place Their Bets

In related news, insider Nemesia S.a.r.l. purchased 900,000 shares of the company's stock in a transaction dated 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. Also, Director Jack Oliver Lundin purchased 20,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was bought at an average cost of C$12.65 per share, for a total transaction of C$252,934.00. Corporate insiders own 15.70% of the company's stock.

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.