Lundin Mining (TSE:LUN) Sets New 12-Month High Following Analyst Upgrade

Key Points

• Lundin Mining reached a new 52-week high of C$22.14 after Scotiabank raised its price target from C$17.00 to C$23.00, maintaining an outperform rating.
• Other analysts, including Jefferies Financial Group and CIBC, have significantly increased their price targets as well, with Jefferies now setting a target of C$26.00.
• The company has a market capitalization of C$18.86 billion and trades a diverse portfolio of base metals including copper, zinc, gold, and nickel across multiple countries.

Lundin Mining Co. (TSE:LUN - Get Free Report) reached a new 52-week high during trading on Wednesday after Scotiabank raised their price target on the stock from C$17.00 to C$23.00. Scotiabank currently has an outperform rating on the stock. Lundin Mining traded as high as C$22.14 and last traded at C$22.02, with a volume of 3058974 shares traded. The stock had previously closed at C$21.65.

A number of other research firms also recently issued reports on LUN. Desjardins set a C$17.00 target price on Lundin Mining and gave the stock a "buy" rating in a report on Thursday, June 19th. Jefferies Financial Group upped their target price on Lundin Mining from C$18.00 to C$26.00 in a report on Monday, October 6th. Morgan Stanley upped their target price on Lundin Mining from C$13.70 to C$14.50 in a report on Wednesday, August 20th. Royal Bank Of Canada boosted their price target on Lundin Mining from C$16.00 to C$18.00 in a research report on Wednesday, September 10th. Finally, CIBC boosted their price target on Lundin Mining from C$18.00 to C$24.00 in a research report on Friday, October 10th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Lundin Mining has an average rating of "Moderate Buy" and a consensus price target of C$18.76.

Lundin Mining Stock Up 1.7%

The company has a market cap of C$18.86 billion, a PE ratio of -734.00, a P/E/G ratio of -0.26 and a beta of 1.85. The business has a 50-day simple moving average of C$17.41 and a 200-day simple moving average of C$14.41. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 41.58.

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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