Lundin Mining (OTCMKTS:LUNMF) was downgraded by Royal Bank of Canada to a “buy” rating in a report released on Friday, TipRanks reports. They currently have a $9.00 price target on the basic materials company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 71.99% from the company’s previous close.
Several other equities analysts also recently issued reports on the stock. ValuEngine downgraded shares of Lundin Mining from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 10th. Barclays set a $8.00 price target on shares of Lundin Mining and gave the company a “buy” rating in a research note on Tuesday, October 15th. CIBC reaffirmed a “buy” rating and set a $8.00 price target on shares of Lundin Mining in a research note on Monday. Morgan Stanley set a $8.00 price target on shares of Lundin Mining and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, Macquarie began coverage on shares of Lundin Mining in a research note on Wednesday, July 10th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $8.25.
Shares of OTCMKTS:LUNMF traded up $0.02 on Friday, reaching $5.23. 40,341 shares of the company’s stock were exchanged, compared to its average volume of 34,620. The company has a fifty day moving average of $4.97 and a 200-day moving average of $4.98. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 37.26 and a beta of 2.03. Lundin Mining has a twelve month low of $3.68 and a twelve month high of $5.94. The company has a current ratio of 2.49, a quick ratio of 2.15 and a debt-to-equity ratio of 0.01.
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, the United States, Portugal, and Sweden. It primarily produces copper, zinc, and nickel, as well as gold, lead, silver, and other metals. The company holds 100% interests in the Eagle mine located in the United States; the Neves-Corvo mine located in Portugal; the Zinkgruvan mine located in Sweden, as well as 80% interest in the Candelaria and Ojos del Salado mining complex located in Chile; 24% interest in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland; and the Chapada copper-gold mine located in Brazil.
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