Lundin Mining (TSE:LUN) Shares Pass Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Lundin Mining shares rose 5.6%, trading above their 200-day moving average of C$36.83 and reaching as high as C$38.03.
• Analyst views are mixed: eight analysts rate the stock Buy, six Hold, and one Sell. The consensus rating is Hold, with an average price target of C$39.71.
• The company reported quarterly EPS of C$0.43 on C$1.72 billion in revenue, with a 35.11% net margin and 22.97% return on equity.

Lundin Mining Co. (TSE:LUN - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$36.83 and traded as high as C$38.03. Lundin Mining shares last traded at C$37.45, with a volume of 2,214,134 shares trading hands.

Analysts Set New Price Targets

LUN has been the subject of a number of research reports. National Bank Financial decreased their target price on Lundin Mining from C$43.50 to C$42.50 and set a "sector perform" rating for the company in a report on Tuesday, July 14th. The Goldman Sachs Group increased their price target on shares of Lundin Mining from C$40.80 to C$48.20 in a report on Friday, June 5th. Canaccord Genuity Group cut shares of Lundin Mining from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th. ATB Cormark Capital Markets decreased their price objective on shares of Lundin Mining from C$42.50 to C$41.50 and set an "outperform" rating for the company in a research note on Monday, August 24th. Finally, Desjardins cut their price objective on shares of Lundin Mining from C$44.00 to C$42.00 and set a "buy" rating on the stock in a research note on Thursday, August 20th. Eight research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of C$39.71.

Lundin Mining Stock Up 5.6%

The firm has a market cap of C$31.88 billion, a price-to-earnings ratio of 21.40, a PEG ratio of -0.26 and a beta of 2.23. The business's 50 day moving average price is C$35.88 and its 200 day moving average price is C$36.83. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.90 and a current ratio of 1.60.

Lundin Mining (TSE:LUN - Get Free Report) last posted its earnings results on Wednesday, August 5th. The mining company reported C$0.43 earnings per share (EPS) for the quarter. Lundin Mining had a net margin of 35.11% and a return on equity of 22.97%. The firm had revenue of C$1.72 billion during the quarter.

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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