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

Lundin Mining (TSE:LUN) had its target price increased by investment analysts at Morgan Stanley from C$16.30 to C$16.40 in a report released on Tuesday, BayStreet.CA reports. Morgan Stanley’s price objective suggests a potential upside of 7.82% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Jefferies Financial Group increased their target price on shares of Lundin Mining from C$18.00 to C$20.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Eight Capital cut shares of Lundin Mining from a “buy” rating to a “neutral” rating and increased their target price for the stock from C$13.00 to C$16.00 in a report on Monday. Pi Financial reiterated a “buy” rating on shares of Lundin Mining in a report on Friday, March 1st. UBS Group increased their target price on shares of Lundin Mining from C$12.50 to C$18.25 in a report on Tuesday, April 9th. Finally, BMO Capital Markets upgraded shares of Lundin Mining from a “market perform” rating to an “outperform” rating and increased their target price for the stock from C$12.00 to C$16.00 in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$14.81.

Lundin Mining Trading Down 3.7 %

Shares of TSE LUN traded down C$0.58 during mid-day trading on Tuesday, reaching C$15.21. The company had a trading volume of 1,288,217 shares, compared to its average volume of 2,288,660. The business’s 50-day moving average is C$13.10 and its 200-day moving average is C$11.04. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 23.15. The stock has a market cap of C$11.79 billion, a price-to-earnings ratio of 36.21, a price-to-earnings-growth ratio of -0.26 and a beta of 1.85. Lundin Mining has a 52 week low of C$8.18 and a 52 week high of C$16.51.

Lundin Mining (TSE:LUN) last posted its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 EPS for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.01). The company had revenue of C$1.44 billion during the quarter, compared to the consensus estimate of C$1.39 billion. Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%. Equities analysts expect that Lundin Mining will post 0.8396226 earnings per share for the current year.

Insider Activity at Lundin Mining

In related news, Senior Officer Annie Laurenson sold 5,200 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$13.30, for a total value of C$69,160.00. 15.70% of the stock is currently owned by insiders.

About Lundin Mining

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.