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 Stock Performance

Shares of LUN opened at C$7.35 on Monday. The company has a market capitalization of C$5.71 billion and a PE ratio of 6.07. Lundin Mining has a one year low of C$6.57 and a one year high of C$14.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.50 and a quick ratio of 1.08. The company's fifty day moving average price is C$8.20 and its 200 day moving average price is C$10.58.

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 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 analyst estimates of C$841.10 million. As a group, analysts expect that Lundin Mining will post 1.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LUN. Stifel Nicolaus reduced their target price on Lundin Mining from C$14.00 to C$12.50 in a research report on Friday, July 29th. Morgan Stanley lowered their target price on Lundin Mining from C$11.30 to C$8.80 in a research note on Wednesday, August 10th. JPMorgan Chase & Co. lowered their price target on Lundin Mining from C$14.30 to C$12.60 in a research report on Monday, July 4th. CIBC lowered their price target on Lundin Mining from C$11.00 to C$9.50 in a research report on Tuesday, August 2nd. Finally, Barclays decreased their target price on Lundin Mining from C$11.00 to C$9.00 and set a "na" rating on the stock in a research report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of C$13.56.

Insider Activity

In related news, insider Nemesia S.a.r.l. acquired 100,000 shares of the business's stock in a transaction dated Wednesday, May 25th. The stock was bought at an average price of C$10.89 per share, with a total value of C$1,088,800.00. Following the acquisition, the insider now owns 96,272,698 shares in the company, valued at approximately C$1,048,217,135.82. In other Lundin Mining news, insider Nemesia S.a.r.l. bought 100,000 shares of the firm's stock in a transaction on Wednesday, May 25th. The shares were purchased at an average price 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 in the company, 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 dated Thursday, August 4th. The shares were purchased at an average cost of C$6.60 per share, with a total value of C$33,000.00. Following the acquisition, the insider now owns 31,466 shares in the company, valued at approximately C$207,675.60. Insiders bought 1,478,400 shares of company stock valued at $14,882,452 in the last quarter.