Lundin Mining (TSE:LUN) Rating Lowered to “Hold” at Scotiabank

Lundin Mining (TSE:LUN) was downgraded by analysts at Scotiabank from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group cut their price target on shares of Lundin Mining from C$20.00 to C$16.00 in a report on Monday, January 6th. Ventum Financial increased their target price on shares of Lundin Mining from C$18.50 to C$19.00 in a research report on Friday, October 18th. Raymond James lowered their price target on shares of Lundin Mining from C$15.00 to C$14.00 and set a “market perform” rating on the stock in a report on Thursday. Finally, UBS Group decreased their target price on Lundin Mining from C$17.00 to C$15.50 in a research report on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$17.31.

Lundin Mining Stock Down 0.2 %

LUN opened at C$12.44 on Wednesday. Lundin Mining has a fifty-two week low of C$9.85 and a fifty-two week high of C$17.97. The company has a debt-to-equity ratio of 24.64, a current ratio of 1.49 and a quick ratio of 0.90. The company’s 50-day moving average is C$13.08 and its 200 day moving average is C$13.60. The firm has a market capitalization of C$9.66 billion, a P/E ratio of 44.43, a PEG ratio of -0.26 and a beta of 1.66.

Lundin Mining (TSE:LUN) last announced its earnings results on Wednesday, November 6th. The mining company reported C$0.12 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.12). The business had revenue of C$1.46 billion during the quarter, compared to analysts’ expectations of C$1.49 billion. Lundin Mining had a return on equity of 5.04% and a net margin of 4.21%.

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.