Lundin Mining (TSE:LUN) Stock Price Expected to Rise, Raymond James Financial Analyst Says

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 target price upped by Raymond James Financial from C$43.00 to C$53.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Raymond James Financial's price objective points to a potential upside of 280.20% from the stock's current price.

A number of other research analysts have also issued reports on LUN. TD Securities upgraded shares of 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. Royal Bank Of Canada set a C$16.00 price objective on Lundin Mining and gave the stock a "sector perform" rating in a research note on Thursday, June 19th. BMO Capital Markets upgraded Lundin Mining to a "strong-buy" rating in a research report on Friday, June 6th. Morgan Stanley decreased their price target on Lundin Mining from C$14.80 to C$12.00 in a research report on Wednesday, April 9th. Finally, Scotiabank upped their price objective on shares of Lundin Mining from C$14.50 to C$16.00 in a research report on Monday, June 16th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lundin Mining has a consensus rating of "Moderate Buy" and a consensus price target of C$18.31.

Lundin Mining Stock Performance

Shares of LUN stock traded down C$0.16 on Tuesday, hitting C$13.94. The company's stock had a trading volume of 1,176,250 shares, compared to its average volume of 2,568,531. Lundin Mining has a fifty-two week low of C$8.94 and a fifty-two week high of C$15.36. The company has a market capitalization of C$8.52 billion, a PE ratio of 27.66, a PEG ratio of -0.26 and a beta of 1.66. The stock's 50 day moving average is C$13.89 and its 200-day moving average is C$12.55. 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 Transactions at Lundin Mining

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