Lundin Mining (TSE:LUN) Sets New 12-Month High - Time to Buy?

Key Points

• Lundin Mining's shares reached a new 12-month high of C$20.81 during trading, closing at C$20.76.
• Analysts have raised their target prices for Lundin Mining, with National Bankshares upgrading it to C$20.00, indicating a strong outlook for the company.
• The stock currently holds a consensus rating of "Moderate Buy" with an average target price of C$16.67, reflecting positive sentiment among analysts.

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$20.81 and last traded at C$20.76, with a volume of 2888832 shares changing hands. The stock had previously closed at C$20.31.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LUN. Scotiabank lifted their target price on shares of Lundin Mining from C$14.50 to C$16.00 in a report on Monday, June 16th. National Bankshares lifted their target price on shares of Lundin Mining from C$17.50 to C$20.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. Raymond James Financial lifted their target price on shares of Lundin Mining from C$15.00 to C$16.00 in a report on Thursday, August 21st. BMO Capital Markets upgraded shares of Lundin Mining to a "strong-buy" rating in a report on Friday, June 6th. Finally, Dnb Nor Markets upgraded shares of Lundin Mining to a "hold" rating in a report on Tuesday, June 17th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$16.67.

Lundin Mining Stock Performance

The firm has a market capitalization of C$17.77 billion, a PE ratio of -692.00, a price-to-earnings-growth ratio of -0.26 and a beta of 1.55. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 41.58. The business's 50 day simple moving average is C$15.85 and its two-hundred day simple moving average is C$13.79.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.