Lundin Mining (TSE:LUN) Stock Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Lundin Mining Co. shares rose above their 200-day moving average, trading as high as C$16.00, reflecting positive momentum in the stock's performance.
• Multiple analysts have upgraded their price targets for Lundin Mining, with the consensus target now at C$16.25 and a majority rating the stock as a Moderate Buy.
• Insider investment increased, with Nemesia S.a.r.l. purchasing 900,000 shares at C$14.10 each, indicating confidence in the company's future potential.

Lundin Mining Co. (TSE:LUN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$13.09 and traded as high as C$16.00. Lundin Mining shares last traded at C$15.89, with a volume of 1,527,021 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. National Bankshares boosted their price target on shares of Lundin Mining from C$16.50 to C$17.50 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Raymond James Financial raised their price target on shares of Lundin Mining from C$15.00 to C$16.00 in a research note on Thursday, August 21st. Scotiabank raised their target price on Lundin Mining from C$14.50 to C$16.00 in a research note on Monday, June 16th. Desjardins set a C$17.00 price objective on Lundin Mining and gave the company a "buy" rating in a research note on Thursday, June 19th. Finally, Morgan Stanley boosted their price objective on shares of Lundin Mining from C$13.70 to C$14.50 in a research report on Wednesday, August 20th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Lundin Mining currently has a consensus rating of "Moderate Buy" and an average target price of C$16.25.

Lundin Mining Stock Up 3.8%

The business has a 50 day moving average price of C$14.77 and a 200 day moving average price of C$13.13. The company has a debt-to-equity ratio of 41.58, a current ratio of 1.40 and a quick ratio of 0.90. The firm has a market capitalization of C$14.10 billion, a P/E ratio of -549.00, a price-to-earnings-growth ratio of -0.26 and a beta of 1.54.

Insider Transactions at Lundin Mining

In related news, insider Nemesia S.a.r.l. purchased 900,000 shares of Lundin Mining stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average cost of C$14.10 per share, with a total value 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.