Raymond James Financial Boosts Lundin Mining (TSE:LUN) Price Target to C$53.00

Key Points

• Raymond James Financial raised its target price for Lundin Mining (TSE:LUN) from C$43.00 to C$53.00, indicating a potential upside of 280.20% from the current price.
• Multiple analysts have rated Lundin Mining as a "buy" or "strong buy," with a consensus rating of "Moderate Buy" and a consensus price target of C$18.31.
• In insider activity, Director Jack Oliver Lundin purchased 20,000 shares at C$12.65 each, while another insider acquired 900,000 shares at C$14.10, reflecting significant confidence in the company's prospects.

Lundin Mining (TSE:LUN - Get Free Report) had its price target lifted by equities research analysts at Raymond James Financial from C$43.00 to C$53.00 in a report issued on Tuesday,BayStreet.CA reports. Raymond James Financial's price target suggests a potential upside of 281.02% from the company's current price.

Other equities analysts have also recently issued reports about the company. Desjardins set a C$17.00 price target on Lundin Mining and gave the company a "buy" rating in a report on Thursday, June 19th. UBS Group downgraded Lundin Mining from a "buy" rating to a "neutral" rating and lowered their target price for the company from C$13.50 to C$13.00 in a report on Friday, May 2nd. TD Securities raised Lundin Mining from a "hold" rating to a "buy" rating and set a C$13.00 target price on the stock in a research report on Tuesday, April 15th. Canaccord Genuity Group raised shares of Lundin Mining from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 16th. Finally, Dnb Nor Markets upgraded shares of Lundin Mining to a "hold" rating in a research note on Tuesday, June 17th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$18.31.

Lundin Mining Stock Performance

Shares of LUN traded down C$0.24 during mid-day trading on Tuesday, hitting C$13.91. 1,999,660 shares of the company traded hands, compared to its average volume of 2,583,565. The stock has a market cap of C$8.50 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of -0.26 and a beta of 1.66. The stock has a 50-day moving average price of C$13.98 and a two-hundred day moving average price of C$12.58. Lundin Mining has a 1 year low of C$8.94 and a 1 year high of C$15.36. The company has a debt-to-equity ratio of 41.58, a quick ratio of 0.90 and a current ratio of 1.40.

Insider Buying and Selling at Lundin Mining

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