Lundin Mining Co. (TSE:LUN) Receives C$17.98 Consensus Target Price from Brokerages

Shares of Lundin Mining Co. (TSE:LUN) have earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$17.98.

LUN has been the subject of a number of analyst reports. Scotiabank upgraded shares of Lundin Mining from a “sector perform” rating to an “outperform” rating and dropped their target price for the stock from C$18.00 to C$16.00 in a report on Monday, August 19th. JPMorgan Chase & Co. upgraded shares of Lundin Mining from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from C$18.20 to C$17.30 in a report on Tuesday, August 20th. Ventum Financial increased their target price on shares of Lundin Mining from C$18.50 to C$19.00 in a report on Friday, October 18th. Royal Bank of Canada dropped their target price on shares of Lundin Mining from C$20.00 to C$16.00 and set a “sector perform” rating for the company in a report on Tuesday, September 10th. Finally, Haywood Securities upgraded shares of Lundin Mining from a “hold” rating to a “buy” rating and set a C$17.00 target price for the company in a report on Tuesday, August 6th.

Insider Buying and Selling at Lundin Mining

In other Lundin Mining news, Director Jack Oliver Lundin bought 65,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of C$12.55 per share, with a total value of C$815,854.00. Insiders own 15.70% of the company’s stock.

Lundin Mining Stock Performance

TSE LUN opened at C$13.45 on Wednesday. The company has a 50-day simple moving average of C$13.61 and a two-hundred day simple moving average of C$14.50. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 24.64. Lundin Mining has a 12-month low of C$8.32 and a 12-month high of C$17.97. The firm has a market cap of C$10.45 billion, a price-to-earnings ratio of 47.86, a PEG ratio of -0.26 and a beta of 1.66.

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

Lundin Mining Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, November 29th. Lundin Mining’s dividend payout ratio is 128.57%.

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.