Morgan Stanley Issues Pessimistic Forecast for Lundin Mining (TSE:LUN) Stock Price

Key Points

• Morgan Stanley cut its price target for Lundin Mining from C$39.70 to C$34.90, implying roughly a 6.86% downside from the stock's current level.
• Analyst coverage is mixed but the consensus remains a "Moderate Buy" with an average target of C$35.38 (ratings: 2 Strong Buy, 6 Buy, 6 Hold, 1 Sell).
• LUN recently traded at C$37.47; the company reported quarterly EPS of C$0.59, a net margin of 33.65%, and has a market cap of C$32.03 billion.

Lundin Mining (TSE:LUN - Get Free Report) had its price target lowered by stock analysts at Morgan Stanley from C$39.70 to C$34.90 in a note issued to investors on Thursday,BayStreet.CA reports. Morgan Stanley's target price suggests a potential downside of 6.86% from the company's current price.

Other analysts also recently issued research reports about the stock. National Bank Financial upped their price target on shares of Lundin Mining from C$40.00 to C$42.00 and gave the company a "sector perform" rating in a research report on Friday, March 13th. Cormark upgraded shares of Lundin Mining from a "hold" rating to a "moderate buy" rating in a research report on Monday, December 22nd. Raymond James Financial reduced their price target on shares of Lundin Mining from C$30.00 to C$27.00 and set a "market perform" rating for the company in a research report on Monday, January 26th. Haywood Securities upped their price target on shares of Lundin Mining from C$32.00 to C$42.00 in a research report on Friday, January 23rd. Finally, TD Securities upped their price target on shares of Lundin Mining from C$42.00 to C$45.00 and gave the company a "buy" rating in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Lundin Mining presently has a consensus rating of "Moderate Buy" and an average target price of C$35.38.

Lundin Mining Stock Performance

LUN stock traded down C$0.49 on Thursday, hitting C$37.47. The company's stock had a trading volume of 757,716 shares, compared to its average volume of 2,981,664. The firm has a 50 day moving average of C$35.64 and a two-hundred day moving average of C$29.45. Lundin Mining has a 1 year low of C$9.34 and a 1 year high of C$45.74. The stock has a market cap of C$32.03 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of -0.26 and a beta of 2.22. The company has a current ratio of 1.64, a quick ratio of 0.90 and a debt-to-equity ratio of 9.31.

Lundin Mining (TSE:LUN - Get Free Report) last released its quarterly earnings results on Friday, February 20th. The mining company reported C$0.59 EPS for the quarter. Lundin Mining had a net margin of 33.65% and a return on equity of 21.95%. The firm had revenue of C$1.51 billion during the quarter.

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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