Lundin Mining (TSE:LUN) Shares Up 5.1% After Analyst Upgrade

Lundin Mining Co. (TSE:LUN) rose 5.1% during mid-day trading on Wednesday after Raymond James raised their price target on the stock from C$11.50 to C$13.00. Raymond James currently has a market perform rating on the stock. Lundin Mining traded as high as C$16.02 and last traded at C$16.00. Approximately 436,885 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 2,264,157 shares. The stock had previously closed at C$15.23.

A number of other research analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Lundin Mining from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Stifel Nicolaus set a C$14.50 target price on shares of Lundin Mining and gave the company a “buy” rating in a research report on Tuesday, March 26th. Bank of America boosted their target price on shares of Lundin Mining from C$12.50 to C$18.50 in a research report on Tuesday, April 9th. UBS Group boosted their target price on shares of Lundin Mining from C$12.50 to C$18.25 in a research report on Tuesday, April 9th. Finally, Morgan Stanley boosted their price target on shares of Lundin Mining from C$12.60 to C$16.40 and gave the company an “overweight” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$14.56.

Insider Activity at Lundin Mining

In related news, Senior Officer Annie Laurenson sold 5,200 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$13.30, for a total transaction of C$69,160.00. 15.70% of the stock is owned by company insiders.

Lundin Mining Stock Performance

The company has a market cap of C$12.44 billion, a P/E ratio of 38.21, a price-to-earnings-growth ratio of -0.26 and a beta of 1.85. The company’s 50-day moving average is C$12.80 and its two-hundred day moving average is C$10.89. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 23.15.

Lundin Mining (TSE:LUN) last posted its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share for the quarter, missing the consensus estimate of C$0.15 by C($0.01). The company had revenue of C$1.44 billion for the quarter, compared to the consensus estimate of C$1.39 billion. Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. Equities analysts predict that Lundin Mining Co. will post 0.8396226 EPS for the current year.

Lundin Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Thursday, March 21st. Lundin Mining’s dividend payout ratio (DPR) is presently 85.71%.

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.