Lundin Mining (TSE:LUN) Stock Price Expected to Rise, Scotiabank Analyst Says

Key Points

• Scotiabank has raised its price target for Lundin Mining from C$17.00 to C$23.00, indicating a potential upside of 6.19% from the stock's previous close.
• The stock is currently rated as an "outperform" by Scotiabank, with three analysts giving a Strong Buy rating and an average price target of C$18.76.
• As of the latest trading session, Lundin Mining's stock price is C$21.66, reflecting a 2.8% increase in value.

Lundin Mining (TSE:LUN - Get Free Report) had its price objective increased by Scotiabank from C$17.00 to C$23.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the mining company's stock. Scotiabank's target price indicates a potential upside of 6.19% from the stock's previous close.

A number of other brokerages have also weighed in on LUN. Royal Bank Of Canada raised their price objective on Lundin Mining from C$16.00 to C$18.00 in a research note on Wednesday, September 10th. Raymond James Financial upped their price target on shares of Lundin Mining from C$15.00 to C$16.00 in a report on Thursday, August 21st. Desjardins set a C$17.00 price target on shares of Lundin Mining and gave the company a "buy" rating in a report on Thursday, June 19th. TD Securities boosted their target price on shares of Lundin Mining from C$18.00 to C$19.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Finally, Jefferies Financial Group boosted their target price on shares of Lundin Mining from C$18.00 to C$26.00 in a research report on Monday, October 6th. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of C$18.76.

Lundin Mining Stock Up 2.8%

LUN stock traded up C$0.58 during trading on Tuesday, reaching C$21.66. The stock had a trading volume of 2,069,630 shares, compared to its average volume of 2,566,234. Lundin Mining has a 1-year low of C$8.94 and a 1-year high of C$22.20. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 41.58. The company has a market capitalization of C$18.55 billion, a P/E ratio of -722.00, a PEG ratio of -0.26 and a beta of 1.85. The firm has a fifty day moving average price of C$17.26 and a 200 day moving average price of C$14.36.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.