Lundin Mining (TSE:LUN) Reaches New 1-Year High – Here’s What Happened

Lundin Mining Co. (TSE:LUN)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$26.09 and last traded at C$25.89, with a volume of 232295 shares. The stock had previously closed at C$25.34.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Lundin Mining from C$18.00 to C$26.00 in a report on Tuesday, October 21st. Morgan Stanley raised their price target on shares of Lundin Mining from C$13.70 to C$14.50 in a research note on Wednesday, August 20th. TD Securities lifted their price target on Lundin Mining from C$26.00 to C$28.00 and gave the company a “buy” rating in a report on Friday, November 7th. Haywood Securities downgraded Lundin Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Finally, Scotiabank raised their target price on Lundin Mining from C$23.00 to C$23.50 in a research report on Tuesday, October 28th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$20.59.

Lundin Mining Trading Up 2.1%

The stock has a market capitalization of C$21.98 billion, a P/E ratio of 855.33, a price-to-earnings-growth ratio of -0.26 and a beta of 1.93. The business has a 50 day simple moving average of C$20.71 and a 200-day simple moving average of C$16.35. The company has a debt-to-equity ratio of 41.58, a quick ratio of 0.90 and a current ratio of 1.40.

Lundin Mining (TSE:LUN) last announced its earnings results on Wednesday, November 5th. The mining company reported C$0.19 earnings per share for the quarter. Lundin Mining had a return on equity of 5.55% and a net margin of 6.63%.The business had revenue of C$1.40 billion during the quarter.

About Lundin Mining

Lundin Mining Corp is a diversified Canadian base metals mining company with operations in Brazil Chile Portugal Sweden and the United States of America producing copper zinc gold and nickel. Its material mineral properties include Candelaria Chapada Eagle and Neves-Corvo.