Royal Bank of Canada Lowers Lundin Mining (TSE:LUN) Price Target to C$16.00

Lundin Mining (TSE:LUN) had its price target lowered by equities researchers at Royal Bank of Canada from C$20.00 to C$16.00 in a report released on Tuesday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the mining company’s stock. Royal Bank of Canada’s target price points to a potential upside of 37.58% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Lundin Mining from a “neutral” rating to an “overweight” rating and cut their target price for the company from C$18.20 to C$17.30 in a research note on Tuesday, August 20th. Scotiabank raised Lundin Mining from a “sector perform” rating to an “outperform” rating and dropped their price objective for the stock from C$18.00 to C$16.00 in a report on Monday, August 19th. Raymond James boosted their price target on shares of Lundin Mining from C$15.00 to C$18.00 in a research note on Thursday, May 23rd. 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 research report on Tuesday, August 6th. Finally, Canaccord Genuity Group cut their target price on Lundin Mining from C$17.50 to C$16.50 in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$17.51.

Lundin Mining Price Performance

Shares of Lundin Mining stock opened at C$11.63 on Tuesday. The firm has a fifty day moving average price of C$13.79 and a two-hundred day moving average price of C$14.39. Lundin Mining has a fifty-two week low of C$8.18 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 has a market cap of C$9.03 billion, a PE ratio of 41.54, a price-to-earnings-growth ratio of -0.26 and a beta of 1.67.

Lundin Mining (TSE:LUN) last announced its quarterly earnings results on Tuesday, July 30th. The mining company reported C$0.22 EPS for the quarter, missing the consensus estimate of C$0.25 by C($0.03). Lundin Mining had a net margin of 4.21% and a return on equity of 5.04%. The company had revenue of C$1.48 billion during the quarter, compared to analyst estimates of C$1.51 billion. Analysts expect that Lundin Mining will post 0.8613678 EPS for the current year.

Insider Activity at Lundin Mining

In related news, Director Jack Oliver Lundin purchased 65,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of C$12.55 per share, for a total transaction of C$815,854.00. 15.70% of the stock is currently owned by corporate insiders.

Lundin Mining Company Profile

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.