Scotiabank Downgrades Lundin Mining (TSE:LUN) to Hold

Lundin Mining (TSE:LUN) was downgraded by research analysts at Scotiabank from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other analysts have also weighed in on LUN. Raymond James dropped their target price on shares of Lundin Mining from C$15.00 to C$14.00 and set a “market perform” rating for the company in a report on Thursday. Jefferies Financial Group cut their price objective on Lundin Mining from C$20.00 to C$16.00 in a research report on Monday, January 6th. UBS Group decreased their target price on Lundin Mining from C$17.00 to C$15.50 in a report on Tuesday, January 7th. Finally, Ventum Financial lifted their price target on shares of Lundin Mining from C$18.50 to C$19.00 in a report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$17.31.

Lundin Mining Stock Down 0.2 %

Shares of TSE:LUN opened at C$12.44 on Wednesday. The stock has a market capitalization of C$9.66 billion, a P/E ratio of 44.43, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66. The stock’s 50-day moving average price is C$13.08 and its 200-day moving average price is C$13.60. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 24.64. Lundin Mining has a 12-month low of C$9.85 and a 12-month high of C$17.97.

Lundin Mining (TSE:LUN) last issued its 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 return on equity of 5.04% and a net margin of 4.21%. The firm had revenue of C$1.46 billion during the quarter, compared to the consensus estimate of C$1.49 billion.

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.