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

Lundin Mining (TSE:LUN - Get Free Report) had its price target lifted by stock analysts at Scotiabank from C$13.00 to C$14.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the mining company's stock. Scotiabank's price objective suggests a potential upside of 21.21% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. Raymond James dropped their price objective on shares of Lundin Mining from C$15.00 to C$14.00 and set a "market perform" rating on the stock in a research note on Thursday, January 16th. Desjardins upgraded Lundin Mining to a "moderate buy" rating in a report on Thursday, April 3rd. The Goldman Sachs Group set a C$16.60 target price on shares of Lundin Mining and gave the stock a "buy" rating in a research report on Thursday, March 6th. TD Securities raised shares of Lundin Mining from a "hold" rating to a "buy" rating and set a C$13.00 target price for the company in a research report on Tuesday, April 15th. Finally, Jefferies Financial Group lowered their price target on Lundin Mining from C$20.00 to C$16.00 in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$15.88.

Lundin Mining Stock Performance

LUN stock traded down C$0.12 on Monday, hitting C$11.55. The company's stock had a trading volume of 1,756,016 shares, compared to its average volume of 2,690,403. The firm has a 50 day moving average of C$11.56 and a two-hundred day moving average of C$12.47. Lundin Mining has a 1 year low of C$8.94 and a 1 year high of C$17.97. 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 market cap of C$7.06 billion, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66.

Insider Activity at Lundin Mining

In other news, Director Adam Ian Lundin bought 150,000 shares of the business's stock in a transaction on Thursday, April 3rd. The shares were bought at an average cost of C$10.82 per share, for a total transaction of C$1,623,000.00. Also, insider Nemesia S.a.r.l. bought 2,000,000 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were bought at an average price of C$11.35 per share, for a total transaction of C$22,700,000.00. Corporate insiders own 15.70% of the company's stock.

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.