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

Key Points

• Lundin Mining's shares surpassed their 200-day moving average during trading, indicating bullish momentum, as they last traded at C$13.91, up from a low of C$12.60.
• Analysts' ratings for Lundin Mining are mostly positive, with a consensus rating of "Moderate Buy" and a consensus target price of C$18.31, reflecting a strong outlook for the stock.
• Notable insider transactions include Nemesia S.a.r.l. purchasing 900,000 shares and Director Jack Oliver Lundin buying 20,000 shares, which underscores insider confidence in the company.

Lundin Mining Co. (TSE:LUN - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$12.60 and traded as high as C$14.04. Lundin Mining shares last traded at C$13.91, with a volume of 1,999,660 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. National Bankshares raised their target price on shares of 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. JPMorgan Chase & Co. lowered shares of Lundin Mining from an "overweight" rating to a "neutral" rating and raised their target price for the stock from C$15.30 to C$15.60 in a research note on Thursday, July 10th. TD Securities raised shares of Lundin Mining from a "hold" rating to a "buy" rating and set a C$13.00 price target on the stock in a research report on Tuesday, April 15th. BMO Capital Markets raised shares of Lundin Mining to a "strong-buy" rating in a research report on Friday, June 6th. Finally, Dnb Nor Markets raised shares of Lundin Mining to a "hold" rating in a research report on Tuesday, June 17th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$18.31.

Lundin Mining Trading Down 1.7%

The company has a market cap of C$8.50 billion, a PE ratio of 27.60, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66. 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 business has a 50-day simple moving average of C$14.00 and a 200-day simple moving average of C$12.60.

Insider Buying and Selling

In other news, insider Nemesia S.a.r.l. bought 900,000 shares of the business's stock in a transaction on Friday, June 13th. The shares were bought at an average price of C$14.10 per share, with a total value of C$12,690,000.00. Also, Director Jack Oliver Lundin bought 20,000 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of C$12.65 per share, for a total transaction of C$252,934.00. 15.70% of the stock is owned by insiders.

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.

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