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

Lundin Mining (TSE:LUN - Get Free Report) had its price target raised by Scotiabank from C$14.50 to C$16.00 in a report issued on Monday,BayStreet.CA reports. Scotiabank's price target points to a potential upside of 15.94% from the stock's current price.

Several other brokerages also recently weighed in on LUN. The Goldman Sachs Group set a C$16.60 target price on shares of Lundin Mining and gave the company a "buy" rating in a research note on Thursday, March 6th. UBS Group downgraded shares of Lundin Mining from a "buy" rating to a "neutral" rating and reduced their target price for the company from C$13.50 to C$13.00 in a research note on Friday, May 2nd. TD Securities raised shares of Lundin Mining from a "hold" rating to a "buy" rating and set a C$13.00 target price on the stock in a research note on Tuesday, April 15th. BMO Capital Markets upgraded shares of Lundin Mining to a "strong-buy" rating in a report on Friday, June 6th. Finally, Stifel Canada upgraded shares of Lundin Mining to a "strong-buy" rating in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Lundin Mining presently has a consensus rating of "Moderate Buy" and a consensus target price of C$15.85.

Lundin Mining Trading Down 1.6%

Shares of LUN traded down C$0.23 during midday trading on Monday, hitting C$13.80. The stock had a trading volume of 686,508 shares, compared to its average volume of 2,659,471. Lundin Mining has a 1 year low of C$8.94 and a 1 year high of C$16.31. The firm has a market cap of C$8.43 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66. 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 stock's 50 day moving average is C$12.51 and its 200 day moving average is C$12.29.

Insiders Place Their Bets

In other Lundin Mining news, 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 cost of C$11.35 per share, for a total transaction of C$22,700,000.00. Also, Director Adam Ian Lundin purchased 150,000 shares of the stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average price of C$10.82 per share, for a total transaction of C$1,623,000.00. Insiders have acquired a total of 3,070,000 shares of company stock worth $37,265,934 in the last three months. Corporate insiders own 15.70% of the company's stock.

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.