Lundin Mining (TSE:LUN) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Lundin Mining stock crossed above its 200‑day moving average, trading as high as C$38.59 versus a 200‑day MA of C$31.81 and last at C$36.10 on volume of 3,881,830 shares.
• Analysts have mostly raised targets recently and the consensus is a "Moderate Buy" with a C$38.30 target, based on 1 Strong Buy, 7 Buy, 5 Hold and 1 Sell ratings.
• Latest quarter: Lundin reported C$0.43 EPS and C$1.61 billion revenue with a 33.65% net margin, and the company has a market cap of C$30.89 billion (beta 2.25).

Lundin Mining Co. (TSE:LUN - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$31.81 and traded as high as C$38.59. Lundin Mining shares last traded at C$36.10, with a volume of 3,881,830 shares changing hands.

Analysts Set New Price Targets

LUN has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price target on shares of Lundin Mining from C$23.90 to C$35.80 in a research report on Tuesday, January 13th. Desjardins raised their price target on shares of Lundin Mining from C$35.00 to C$42.00 and gave the company a "buy" rating in a research report on Thursday, March 12th. BMO Capital Markets raised their price target on shares of Lundin Mining from C$36.00 to C$45.00 in a research report on Wednesday, April 22nd. Morgan Stanley dropped their price target on shares of Lundin Mining from C$39.70 to C$34.90 in a research report on Thursday, April 9th. Finally, Haywood Securities raised their price target on shares of Lundin Mining from C$32.00 to C$42.00 in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Lundin Mining presently has a consensus rating of "Moderate Buy" and a consensus target price of C$38.30.

Lundin Mining Price Performance

The stock has a market cap of C$30.89 billion, a PE ratio of 24.23, a P/E/G ratio of -0.26 and a beta of 2.25. The company has a debt-to-equity ratio of 9.31, a current ratio of 1.64 and a quick ratio of 0.90. The firm's 50 day moving average price is C$36.31 and its two-hundred day moving average price is C$31.81.

Lundin Mining (TSE:LUN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The mining company reported C$0.43 EPS for the quarter. The company had revenue of C$1.61 billion during the quarter. Lundin Mining had a net margin of 33.65% and a return on equity of 21.95%.

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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