TD Securities Forecasts Strong Price Appreciation for Lundin Mining (TSE:LUN) Stock

Key Points

• TD Securities has raised its price target for Lundin Mining stock from C$16.00 to C$18.00, indicating a potential upside of 13.21% based on recent trading prices.
• Most analysts have a positive outlook on Lundin Mining, with a consensus rating of "Moderate Buy" and an average price target of C$18.90, despite some mixed ratings from other firms.
• Insider activity remains strong, with significant purchases made by major shareholders, suggesting confidence in the company’s future performance.

Lundin Mining (TSE:LUN - Free Report) had its price target boosted by TD Securities from C$16.00 to C$18.00 in a research report report published on Friday,BayStreet.CA reports. They currently have a buy rating on the mining company's stock.

A number of other research analysts also recently commented on LUN. Royal Bank Of Canada set a C$16.00 target price on Lundin Mining and gave the stock a "sector perform" rating in a report on Thursday, June 19th. Canaccord Genuity Group upgraded Lundin Mining from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 16th. BMO Capital Markets upgraded Lundin Mining to a "strong-buy" rating in a report on Friday, June 6th. Dnb Nor Markets upgraded Lundin Mining to a "hold" rating in a report on Tuesday, June 17th. Finally, Scotiabank raised their target price on Lundin Mining from C$14.50 to C$16.00 in a research report on Monday, June 16th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of C$18.90.

Lundin Mining Trading Up 2.7%

TSE:LUN traded up C$0.41 on Friday, hitting C$15.78. 286,992 shares of the stock were exchanged, compared to its average volume of 2,571,407. The stock has a market cap of C$9.64 billion, a PE ratio of 31.32, a PEG ratio of -0.26 and a beta of 1.66. 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 stock has a fifty day moving average of C$14.19 and a 200-day moving average of C$12.70. Lundin Mining has a fifty-two week low of C$8.94 and a fifty-two week high of C$15.99.

Insider Activity

In other Lundin Mining news, Director Jack Oliver Lundin bought 20,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was 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 Lundin Mining stock in a transaction on Friday, June 13th. The stock was purchased at an average cost of C$14.10 per share, with a total value of C$12,690,000.00. 15.70% of the stock is currently owned by corporate insiders.

About Lundin Mining

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.