National Bankshares Issues Positive Forecast for Lundin Mining (TSE:LUN) Stock Price

Key Points

• National Bankshares has raised its target price for Lundin Mining's stock from C$17.50 to C$20.00, suggesting a potential upside of 3.15% from its previous close.
• The stock price of Lundin Mining has increased by 10.2% during midday trading, reaching C$19.39, with over 4 million shares traded.
• Currently, Lundin Mining has an average rating of "Moderate Buy" with three analysts giving it a Strong Buy rating and six improving it to a Buy rating.

Lundin Mining (TSE:LUN - Get Free Report) had its target price upped by stock analysts at National Bankshares from C$17.50 to C$20.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the mining company's stock. National Bankshares' target price would suggest a potential upside of 3.15% from the company's previous close.

A number of other analysts have also issued reports on the company. Dnb Nor Markets raised Lundin Mining to a "hold" rating in a research report on Tuesday, June 17th. JPMorgan Chase & Co. lowered Lundin Mining from an "overweight" rating to a "neutral" rating and raised their price objective for the company from C$15.30 to C$15.60 in a research note on Thursday, July 10th. TD Securities lifted their price objective on Lundin Mining from C$18.00 to C$19.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Royal Bank Of Canada increased their target price on Lundin Mining from C$16.00 to C$18.00 in a research note on Wednesday, September 10th. Finally, BMO Capital Markets raised shares of Lundin Mining to a "strong-buy" rating in a research report on Friday, June 6th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Lundin Mining has an average rating of "Moderate Buy" and an average target price of C$16.67.

Lundin Mining Stock Up 10.2%

Lundin Mining stock traded up C$1.80 during midday trading on Wednesday, hitting C$19.39. 4,071,098 shares of the stock were exchanged, compared to its average volume of 2,534,707. Lundin Mining has a 1 year low of C$8.94 and a 1 year high of C$21.00. The firm has a market cap of C$16.60 billion, a P/E ratio of -646.33, a P/E/G ratio of -0.26 and a beta of 1.55. The company has a debt-to-equity ratio of 41.58, a current ratio of 1.40 and a quick ratio of 0.90. The company has a 50 day moving average price of C$15.38 and a two-hundred day moving average price of C$13.58.

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.

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.