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

Lundin Mining Co. (TSE:LUN - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$12.31 and traded as high as C$12.63. Lundin Mining shares last traded at C$12.31, with a volume of 2,636,738 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group lowered shares of Lundin Mining from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from C$13.50 to C$13.00 in a research note on Friday, May 2nd. TD Securities raised shares of Lundin Mining from a "hold" rating to a "buy" rating and set a C$13.00 price objective on the stock in a research note on Tuesday, April 15th. Stifel Canada raised shares of Lundin Mining to a "strong-buy" rating in a report on Wednesday, March 19th. Morgan Stanley decreased their price target on shares of Lundin Mining from C$14.80 to C$12.00 in a report on Wednesday, April 9th. Finally, The Goldman Sachs Group set a C$16.60 price target on shares of Lundin Mining and gave the company a "buy" rating in a report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$15.65.

Lundin Mining Trading Up 4.7%

The company has a market cap of C$8.01 billion, a price-to-earnings ratio of 26.00, a P/E/G 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 firm has a fifty day moving average price of C$11.58 and a 200 day moving average price of C$12.28.

Insider Activity

In other Lundin Mining news, insider Nemesia S.a.r.l. purchased 2,000,000 shares of the stock in a transaction on Thursday, April 3rd. The shares were purchased at an average price of C$11.35 per share, with a total value of C$22,700,000.00. Also, Director Adam Ian Lundin purchased 150,000 shares of the stock in a transaction on Thursday, April 3rd. The shares were acquired at an average cost of C$10.82 per share, for a total transaction of C$1,623,000.00. In the last 90 days, insiders purchased 2,170,000 shares of company stock valued at $24,575,934. 15.70% of the stock is owned by insiders.

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.