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

Lundin Mining Co. (TSE:LUN - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$12.42 and traded as high as C$14.51. Lundin Mining shares last traded at C$14.11, with a volume of 2,113,723 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group downgraded shares of Lundin Mining from a "buy" rating to a "neutral" rating and reduced their target price for the stock from C$13.50 to C$13.00 in a research report on Friday, May 2nd. National Bankshares upped their price objective on shares of Lundin Mining from C$16.50 to C$17.50 and gave the stock an "outperform" rating in a report on Wednesday. Stifel Canada raised shares of Lundin Mining to a "strong-buy" rating in a research note on Wednesday, March 19th. Raymond James Financial raised Lundin Mining to a "hold" rating in a research report on Monday, June 30th. Finally, Dnb Nor Markets upgraded Lundin Mining to a "hold" rating in a research note on Tuesday, June 17th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Lundin Mining presently has an average rating of "Moderate Buy" and an average price target of C$15.96.

Lundin Mining Price Performance

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 company has a market capitalization of C$8.62 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66. The firm's 50 day simple moving average is C$13.42 and its 200 day simple moving average is C$12.42.

Insider Transactions at Lundin Mining

In other Lundin Mining news, Director Jack Oliver Lundin purchased 20,000 shares of Lundin Mining stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average cost of C$12.65 per share, for a total transaction of C$252,934.00. Also, insider Nemesia S.a.r.l. bought 900,000 shares of the stock in a transaction dated Friday, June 13th. The shares were bought 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.

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