Lundin Mining (TSE:LUN) Cut to “Neutral” at Eight Capital

Eight Capital downgraded shares of Lundin Mining (TSE:LUN) from a buy rating to a neutral rating in a research note issued to investors on Monday morning, BayStreet.CA reports. They currently have C$16.00 target price on the mining company’s stock, up from their previous target price of C$13.00.

LUN has been the subject of several other reports. Pi Financial reissued a buy rating on shares of Lundin Mining in a report on Friday, March 1st. Canaccord Genuity Group increased their price objective on Lundin Mining from C$11.00 to C$16.50 in a report on Wednesday, April 17th. BMO Capital Markets raised Lundin Mining from a market perform rating to an outperform rating and increased their price objective for the company from C$12.00 to C$16.00 in a report on Wednesday, March 27th. Bank of America increased their price objective on Lundin Mining from C$12.50 to C$18.50 in a report on Tuesday, April 9th. Finally, Jefferies Financial Group increased their price objective on Lundin Mining from C$18.00 to C$20.00 and gave the company a buy rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Lundin Mining has an average rating of Hold and a consensus price target of C$14.93.

Lundin Mining Price Performance

Shares of TSE LUN opened at C$15.32 on Monday. Lundin Mining has a twelve month low of C$8.18 and a twelve month high of C$16.51. The stock’s 50 day moving average price is C$13.27 and its 200-day moving average price is C$11.11. The company has a market capitalization of C$11.88 billion, a PE ratio of 36.48, a PEG ratio of -0.26 and a beta of 1.85. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 23.15.

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). Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%. The company had revenue of C$1.44 billion during the quarter, compared to the consensus estimate of C$1.39 billion. On average, equities analysts anticipate that Lundin Mining will post 0.8396226 EPS for the current year.

Lundin Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 22nd were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.35%. Lundin Mining’s dividend payout ratio (DPR) is presently 85.71%.

Insider Buying and Selling

In related news, Senior Officer Annie Laurenson sold 5,200 shares of the stock in a transaction on Wednesday, March 20th. The stock was 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 company 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.