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

Key Points

• TD Securities has raised its price target for Lundin Mining from C$18.00 to C$19.00, indicating a potential upside of 16.14% from its previous closing price.
• Several analysts have recently issued positive ratings for Lundin Mining, contributing to a consensus rating of "Moderate Buy" with a consensus price target of C$16.48.
• Insider Nemesia S.a.r.l. purchased 900,000 shares of Lundin Mining at C$14.10 per share, reflecting strong insider confidence in the company's prospects.

Lundin Mining (TSE:LUN - Free Report) had its price objective hoisted by TD Securities from C$18.00 to C$19.00 in a research note released on Wednesday morning,BayStreet.CA reports. The firm currently has a buy rating on the mining company's stock.

A number of other equities analysts have also recently commented on the company. Desjardins set a C$17.00 target price on Lundin Mining and gave the company a "buy" rating in a report on Thursday, June 19th. National Bankshares upped their price target on Lundin Mining from C$16.50 to C$17.50 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Royal Bank Of Canada upped their price target on Lundin Mining from C$16.00 to C$18.00 in a report on Wednesday, September 10th. JPMorgan Chase & Co. downgraded Lundin Mining from an "overweight" rating to a "neutral" rating and upped their price target for the stock from C$15.30 to C$15.60 in a report on Thursday, July 10th. Finally, BMO Capital Markets raised Lundin Mining to a "strong-buy" rating in a report on Friday, June 6th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$16.48.

Lundin Mining Trading Up 2.1%

Lundin Mining stock traded up C$0.35 during midday trading on Wednesday, reaching C$16.74. 1,937,750 shares of the stock traded hands, compared to its average volume of 2,490,026. The company has a 50-day simple moving average of C$15.00 and a two-hundred day simple moving average of C$13.35. Lundin Mining has a 12-month low of C$8.94 and a 12-month high of C$17.10. The firm has a market cap of C$14.33 billion, a PE ratio of -558.00, a price-to-earnings-growth ratio of -0.26 and a beta of 1.55. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 41.58.

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.