National Bank Financial Forecasts Strong Price Appreciation for Lundin Mining (TSE:LUN) Stock

Key Points

• National Bank Financial raised its price target on Lundin Mining to C$43.50 (from C$42.00) while maintaining a "sector perform" rating, implying about a 6.38% upside from the current price.
• Overall analyst sentiment is a Moderate Buy (average target C$35.92) even as multiple brokers have lifted targets recently; Lundin trades at C$40.89 and reported a quarterly EPS of C$0.59 on C$1.51B revenue with a 33.65% net margin.

Lundin Mining (TSE:LUN - Get Free Report) had its price target hoisted by National Bank Financial from C$42.00 to C$43.50 in a report issued on Wednesday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the mining company's stock. National Bank Financial's target price would indicate a potential upside of 6.38% from the company's current price.

Several other brokerages have also recently commented on LUN. Royal Bank Of Canada lifted their price objective on shares of Lundin Mining from C$29.00 to C$42.00 in a research note on Thursday, March 12th. Scotiabank increased their price target on Lundin Mining from C$25.00 to C$31.00 and gave the stock an "outperform" rating in a research report on Thursday, January 8th. The Goldman Sachs Group lifted their price objective on Lundin Mining from C$23.90 to C$35.80 in a research note on Tuesday, January 13th. Haywood Securities boosted their price objective on Lundin Mining from C$32.00 to C$42.00 in a report on Friday, January 23rd. Finally, Cormark upgraded Lundin Mining from a "hold" rating to a "moderate buy" rating in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of C$35.92.

Lundin Mining Stock Performance

LUN stock traded up C$0.38 during trading on Wednesday, reaching C$40.89. The company had a trading volume of 1,168,601 shares, compared to its average volume of 2,923,895. The company has a debt-to-equity ratio of 9.31, a quick ratio of 0.90 and a current ratio of 1.64. Lundin Mining has a twelve month low of C$10.45 and a twelve month high of C$45.74. The company has a market cap of C$34.95 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of -0.26 and a beta of 2.22. The firm has a 50-day simple moving average of C$35.93 and a 200-day simple moving average of C$30.11.

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

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.

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