TD Securities Boosts Lundin Mining (TSE:LUN) Price Target to C$19.00

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 - Get Free Report) had its price objective lifted by equities researchers at TD Securities from C$18.00 to C$19.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the mining company's stock. TD Securities' target price indicates a potential upside of 16.14% from the company's previous close.

Several other analysts also recently issued reports on the company. Raymond James Financial lifted their target price on Lundin Mining from C$15.00 to C$16.00 in a research note on Thursday, August 21st. BMO Capital Markets upgraded Lundin Mining to a "strong-buy" rating in a report on Friday, June 6th. Dnb Nor Markets upgraded Lundin Mining to a "hold" rating in a report on Tuesday, June 17th. National Bankshares boosted their price objective on Lundin Mining from C$16.50 to C$17.50 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, Desjardins set a C$17.00 target price on Lundin Mining and gave the company a "buy" rating in a research report on Thursday, June 19th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Lundin Mining has a consensus rating of "Moderate Buy" and a consensus price target of C$16.48.

Lundin Mining Stock Performance

LUN stock traded up C$0.15 during trading on Wednesday, reaching C$16.36. The stock had a trading volume of 1,100,575 shares, compared to its average volume of 2,494,130. The stock's 50 day moving average is C$14.92 and its two-hundred day moving average is C$13.24. 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 has a 52 week low of C$8.94 and a 52 week high of C$17.10. The firm has a market cap of C$14.01 billion, a PE ratio of -545.33, a PEG ratio of -0.26 and a beta of 1.55.

Insiders Place Their Bets

In other Lundin Mining news, insider Nemesia S.a.r.l. purchased 900,000 shares of Lundin Mining stock in a transaction that occurred on Friday, June 13th. The stock was bought at an average price of C$14.10 per share, with a total value of C$12,690,000.00. 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.

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