TD Issues Pessimistic Forecast for Lundin Mining (TSE:LUN) Stock Price

Key Points

• TD cut its price target on Lundin Mining from C$44.00 to C$43.00, but kept a buy rating on the stock. The new target still implies about 21.95% upside from the previous close.
• Analyst sentiment remains mixed but positive overall, with eight Buy ratings, five Hold ratings, and one Sell rating. The consensus view is Moderate Buy, with an average target price of C$39.64.
• Lundin Mining shares rose 4.1% to C$35.26 in Tuesday trading. The company reported quarterly earnings of C$0.43 per share on revenue of C$1.61 billion in its latest results.

Lundin Mining (TSE:LUN - Get Free Report) had its price target reduced by equities researchers at TD from C$44.00 to C$43.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the mining company's stock. TD's target price suggests a potential upside of 21.95% from the company's previous close.

Several other research firms have also commented on LUN. BMO Capital Markets upped their target price on Lundin Mining from C$36.00 to C$45.00 in a research note on Wednesday, April 22nd. ATB Cormark Capital Markets lifted their price target on Lundin Mining from C$32.50 to C$40.00 and gave the company an "outperform" rating in a report on Wednesday, June 24th. National Bank Financial dropped their price objective on shares of Lundin Mining from C$43.50 to C$42.50 and set a "sector perform" rating for the company in a research note on Tuesday. Scotiabank increased their price objective on shares of Lundin Mining from C$36.00 to C$42.00 and gave the stock a "sector outperform" rating in a report on Monday, June 15th. Finally, Morgan Stanley decreased their target price on shares of Lundin Mining from C$39.70 to C$34.90 in a research report on Thursday, April 9th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Lundin Mining has a consensus rating of "Moderate Buy" and a consensus target price of C$39.64.

Lundin Mining Trading Up 4.1%

TSE LUN traded up C$1.39 during mid-day trading on Tuesday, reaching C$35.26. 688,932 shares of the stock were exchanged, compared to its average volume of 2,831,327. The stock has a market capitalization of C$30.10 billion, a PE ratio of 21.11, a PEG ratio of -0.26 and a beta of 2.32. The company has a debt-to-equity ratio of 5.55, a quick ratio of 0.90 and a current ratio of 1.81. Lundin Mining has a 1-year low of C$13.37 and a 1-year high of C$45.74. The business's fifty day simple moving average is C$37.46 and its 200 day simple moving average is C$35.98.

Lundin Mining (TSE:LUN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The mining company reported C$0.43 earnings per share for the quarter. Lundin Mining had a return on equity of 23.11% and a net margin of 35.92%.The company had revenue of C$1.61 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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