Lundin Mining (TSE:LUN) Sets New 1-Year 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) hit a new 52-week high 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.

Wall Street Analyst Weigh In

Several analysts have issued reports on LUN shares. BMO Capital Markets upgraded shares of Lundin Mining to a "strong-buy" rating in a research report on Friday, June 6th. JPMorgan Chase & Co. lowered Lundin Mining from an "overweight" rating to a "neutral" rating and increased their target price for the stock from C$15.30 to C$15.60 in a research report on Thursday, July 10th. Raymond James Financial lifted their price target on shares of Lundin Mining from C$43.00 to C$53.00 in a research report on Tuesday, July 29th. National Bankshares increased their target price on Lundin Mining from C$16.50 to C$17.50 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Scotiabank boosted their price objective on shares of Lundin Mining from C$14.50 to C$16.00 in a report on Monday, June 16th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$18.52.

Lundin Mining Trading Up 8.5%

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 stock has a market capitalization of C$9.39 billion, a PE ratio of 30.48, a PEG ratio of -0.26 and a beta of 1.66. The stock's 50 day moving average price is C$14.04 and its 200-day moving average price is C$12.63.

Insider Activity at Lundin Mining

In other news, Director Jack Oliver Lundin acquired 20,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was purchased 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. acquired 900,000 shares of Lundin Mining stock in a transaction on Friday, June 13th. The stock was purchased at an average cost of C$14.10 per share, for a total transaction of C$12,690,000.00. Company insiders own 15.70% of the company's stock.

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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