Morgan Stanley Increases Lundin Mining (TSE:LUN) Price Target to C$16.40

Lundin Mining (TSE:LUN - Free Report) had its price objective upped by Morgan Stanley from C$16.30 to C$16.40 in a research note published on Tuesday, BayStreet.CA reports.

LUN has been the subject of a number of other reports. CIBC boosted their price target on shares of Lundin Mining from C$12.00 to C$15.00 and gave the company a neutral rating in a research report on Wednesday, April 17th. Pi Financial restated a buy rating on shares of Lundin Mining in a research report on Friday, March 1st. BMO Capital Markets upgraded shares of Lundin Mining from a market perform rating to an outperform rating and boosted their price target for the company from C$12.00 to C$16.00 in a research report on Wednesday, March 27th. UBS Group boosted their price target on shares of Lundin Mining from C$12.50 to C$18.25 in a research report on Tuesday, April 9th. Finally, Raymond James upped their target price on shares of Lundin Mining from C$11.50 to C$13.00 and gave the stock a market perform rating in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Lundin Mining presently has an average rating of Hold and an average price target of C$14.81.

Lundin Mining Stock Performance

Lundin Mining stock traded down C$0.54 during mid-day trading on Tuesday, reaching C$15.25. The company's stock had a trading volume of 2,243,182 shares, compared to its average volume of 2,301,053. Lundin Mining has a 12-month low of C$8.18 and a 12-month high of C$16.51. The company has a market capitalization of C$11.82 billion, a P/E ratio of 36.31, a PEG ratio of -0.26 and a beta of 1.85. The company has a debt-to-equity ratio of 23.15, a quick ratio of 0.90 and a current ratio of 1.48. The firm's fifty day moving average price is C$13.10 and its two-hundred day moving average price is C$11.04.

Lundin Mining (TSE:LUN - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The mining company reported C$0.14 earnings per share for the quarter, missing analysts' consensus estimates of C$0.15 by C($0.01). Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. The business had revenue of C$1.44 billion during the quarter, compared to analysts' expectations of C$1.39 billion. Sell-side analysts predict that Lundin Mining will post 0.8396226 EPS for the current fiscal year.

Lundin Mining Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 22nd were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Thursday, March 21st. Lundin Mining's dividend payout ratio is currently 85.71%.

Insiders Place Their Bets

In other Lundin Mining news, Senior Officer Annie Laurenson sold 5,200 shares of the company's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$13.30, for a total value of C$69,160.00. Corporate insiders own 15.70% of the company's stock.

Lundin Mining Company Profile

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, Brazil, the United States, Portugal, Sweden, and Argentina. It primarily produces copper, zinc, gold, nickel, and molybdenum, as well as lead, silver, and other metals.