Lundin Mining (TSE:LUN) Stock Passes Above 200-Day Moving Average of $13.02

Lundin Mining Co. (TSE:LUN)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$13.02 and traded as high as C$14.78. Lundin Mining shares last traded at C$14.75, with a volume of 409,732 shares.

Analyst Ratings Changes

A number of brokerages have issued reports on LUN. Eight Capital cut shares of Lundin Mining from a “buy” rating to a “neutral” rating and raised their price objective for the company from C$13.00 to C$16.00 in a research note on Monday, April 22nd. Raymond James upped their price objective on Lundin Mining from C$15.00 to C$18.00 in a report on Thursday, May 23rd. Scotiabank raised their target price on Lundin Mining from C$14.50 to C$18.00 in a report on Thursday, May 30th. National Bankshares upped their price target on Lundin Mining from C$18.00 to C$19.50 and gave the company an “outperform” rating in a research note on Monday, June 10th. Finally, Jefferies Financial Group lifted their price objective on shares of Lundin Mining from C$18.00 to C$20.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$16.54.

Lundin Mining Stock Up 1.9 %

The company has a current ratio of 1.57, a quick ratio of 0.90 and a debt-to-equity ratio of 25.05. The company has a market capitalization of C$11.45 billion, a P/E ratio of 77.63, a PEG ratio of -0.26 and a beta of 1.82. The firm’s 50 day moving average price is C$15.81 and its two-hundred day moving average price is C$13.02.

Lundin Mining (TSE:LUN) last announced its earnings results on Wednesday, May 1st. The mining company reported C$0.08 EPS for the quarter, missing the consensus estimate of C$0.10 by C($0.02). Lundin Mining had a return on equity of 3.49% and a net margin of 3.04%. The business had revenue of C$1.26 billion for the quarter, compared to analyst estimates of C$1.27 billion. Equities research analysts forecast that Lundin Mining Co. will post 0.7934045 EPS for the current year.

Lundin Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Friday, May 31st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Friday, May 31st. Lundin Mining’s payout ratio is 189.47%.

Insider Buying and Selling

In other news, Senior Officer Teitur Nolsoe Poulsen sold 8,834 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of C$17.64, for a total value of C$155,831.76. In related news, Senior Officer Annie Laurenson sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of C$17.20, for a total value of C$215,000.00. Also, Senior Officer Teitur Nolsoe Poulsen sold 8,834 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of C$17.64, for a total value of C$155,831.76. 15.70% of the stock is currently owned by corporate 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.