Canaccord Genuity cut shares of Lundin Mining (TSE:LUN) to a hold rating in a report published on Tuesday, TipRanks reports. Canaccord Genuity currently has C$10.50 price target on the mining company’s stock.
A number of other brokerages have also issued reports on LUN. Bank of America lowered their price target on Lundin Mining from C$15.30 to C$9.00 and set an underperform rating on the stock in a research note on Wednesday, September 22nd. The Goldman Sachs Group restated an underperform rating and issued a C$15.30 target price (down previously from C$17.00) on shares of Lundin Mining in a research report on Friday, October 8th. Raymond James restated a market perform rating and issued a C$13.50 target price on shares of Lundin Mining in a research report on Thursday, October 28th. UBS Group reduced their target price on Lundin Mining from C$14.00 to C$9.50 and set a neutral rating on the stock in a research report on Tuesday, October 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Lundin Mining from C$11.90 to C$12.20 and gave the company an overweight rating in a report on Friday, October 29th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of C$12.86.
Shares of LUN stock opened at C$10.40 on Tuesday. The stock has a market cap of C$7.64 billion and a P/E ratio of 9.09. Lundin Mining has a twelve month low of C$8.56 and a twelve month high of C$16.07. The stock has a 50 day moving average of C$10.11 and a 200 day moving average of C$11.03. The company has a current ratio of 1.86, a quick ratio of 1.43 and a debt-to-equity ratio of 0.78.
In other Lundin Mining news, Director Catherine Jean Garrett Stefan acquired 5,600 shares of the firm’s stock in a transaction that occurred on Friday, September 17th. The stock was purchased at an average cost of C$8.91 per share, for a total transaction of C$49,896.00. Following the completion of the acquisition, the director now owns 62,000 shares of the company’s stock, valued at approximately C$552,420. Also, Senior Officer Marie Inkster sold 53,686 shares of the company’s stock in a transaction dated Tuesday, October 26th. The shares were sold at an average price of C$10.12, for a total transaction of C$543,184.21. Following the sale, the insider now owns 501,057 shares of the company’s stock, valued at C$5,069,594.51.
About Lundin Mining
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 Eagle mine located in the United States; the Neves-Corvo mine located in Portugal; and the Zinkgruvan mine located in Sweden.
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