Lundin Mining (TSE:LUN) Shares Pass Above 200 Day Moving Average - What's Next?

Key Points

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Lundin Mining Co. (TSE:LUN - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$12.83 and traded as high as C$15.67. Lundin Mining shares last traded at C$15.44, with a volume of 1,800,302 shares.

Wall Street Analyst Weigh In

LUN has been the topic of a number of analyst reports. JPMorgan Chase & Co. downgraded shares of Lundin Mining from an "overweight" rating to a "neutral" rating and lifted their price objective for the stock from C$15.30 to C$15.60 in a report on Thursday, July 10th. Royal Bank Of Canada set a C$16.00 target price on Lundin Mining and gave the stock a "sector perform" rating in a research note on Thursday, June 19th. National Bankshares lifted 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. UBS Group cut Lundin Mining from a "buy" rating to a "neutral" rating and lowered their target price for the stock from C$13.50 to C$13.00 in a research note on Friday, May 2nd. Finally, Morgan Stanley lifted their target price on Lundin Mining from C$13.70 to C$14.50 in a research note on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Lundin Mining has a consensus rating of "Moderate Buy" and an average target price of C$16.25.

Lundin Mining Stock Up 3.0%

The company has a market capitalization of C$9.59 billion, a P/E ratio of 31.14, a PEG ratio of -0.26 and a beta of 1.66. 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 stock has a 50 day moving average price of C$14.44 and a 200 day moving average price of C$12.93.

Insider Transactions at Lundin Mining

In other news, insider Nemesia S.a.r.l. acquired 900,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were acquired at an average cost of C$14.10 per share, for a total transaction of C$12,690,000.00. Corporate 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.