Lundin Mining - LUN Stock Forecast, Price & News

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Brazil, Chile, Portugal, Sweden, and the United States. It primarily produces copper, zinc, nickel, and gold, as well as lead, silver, and other metals. The company holds 100% interests in the Chapada mine located in Brazil; the Neves-Corvo mine located in Portugal; the Eagle mine located in the United States; and the Zinkgruvan mine located in Sweden. It also holds 80% interests in the Candelaria and Ojos del Salado mining complex located in Chile. The company was formerly known as South Atlantic Ventures Ltd. and changed its name to Lundin Mining Corporation in August 2004. Lundin Mining Corporation was incorporated in 1994 and is headquartered in Toronto, Canada.

Lundin Mining Trading Up 2.6 %

Shares of TSE:LUN traded up C$0.18 during mid-day trading on Wednesday, hitting C$7.01. The company's stock had a trading volume of 5,483,242 shares, compared to its average volume of 2,380,736. The stock has a market cap of C$5.45 billion and a price-to-earnings ratio of 5.76. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.50 and a quick ratio of 1.08. Lundin Mining has a one year low of C$6.57 and a one year high of C$14.00. The company's fifty day simple moving average is C$8.44 and its 200-day simple moving average is C$10.65.

Lundin Mining (TSE:LUN - Get Rating) last issued its earnings results on Wednesday, July 27th. The mining company reported C($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.15 by C($0.21). The firm had revenue of C$753.31 million for the quarter, compared to the consensus estimate of C$841.10 million. On average, sell-side analysts anticipate that Lundin Mining will post 1.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LUN has been the subject of several research analyst reports. Barclays cut their target price on shares of Lundin Mining from C$11.00 to C$9.00 and set a "na" rating for the company in a research note on Tuesday, July 19th. Eight Capital increased their price objective on shares of Lundin Mining from C$15.00 to C$16.00 and gave the company a "buy" rating in a research note on Thursday, April 21st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Lundin Mining from C$10.25 to C$8.00 in a research note on Tuesday. BMO Capital Markets started coverage on shares of Lundin Mining in a research note on Monday, May 2nd. They issued a "buy" rating and a C$16.50 price objective for the company. Finally, Morgan Stanley dropped their price objective on shares of Lundin Mining from C$11.30 to C$8.80 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of C$13.56.

Insider Activity

In other news, Senior Officer Andrew Hastings purchased 5,000 shares of the business's stock in a transaction that occurred on Thursday, August 4th. The shares were acquired at an average cost of C$6.60 per share, for a total transaction of C$33,000.00. Following the transaction, the insider now directly owns 31,466 shares of the company's stock, valued at approximately C$207,675.60. In other news, insider Nemesia S.a.r.l. purchased 100,000 shares of the business's stock in a transaction that occurred on Wednesday, May 25th. The shares were acquired at an average cost of C$10.89 per share, for a total transaction of C$1,088,800.00. Following the transaction, the insider now directly owns 96,272,698 shares of the company's stock, valued at approximately C$1,048,217,135.82. Also, Senior Officer Andrew Hastings purchased 5,000 shares of the business's stock in a transaction that occurred on Thursday, August 4th. The stock was purchased at an average price of C$6.60 per share, for a total transaction of C$33,000.00. Following the completion of the transaction, the insider now directly owns 31,466 shares in the company, valued at C$207,675.60. In the last quarter, insiders have acquired 1,728,400 shares of company stock valued at $17,342,252.