Lundin Mining (TSE:LUN) Hits New 12-Month High – Time to Buy?

Lundin Mining Co. (TSE:LUN) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$37.10 and last traded at C$36.81, with a volume of 600138 shares traded. The stock had previously closed at C$35.57.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LUN. Jefferies Financial Group increased their target price on shares of Lundin Mining from C$106.00 to C$113.00 in a report on Monday. Stifel Nicolaus lifted their price target on Lundin Mining from C$18.00 to C$26.00 in a report on Tuesday, October 21st. Cormark raised Lundin Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, December 22nd. Haywood Securities increased their price target on Lundin Mining from C$28.00 to C$32.00 in a research note on Tuesday, December 16th. Finally, CIBC boosted their price target on shares of Lundin Mining from C$24.00 to C$30.00 in a research report on Friday, December 12th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$31.75.

Lundin Mining Trading Up 2.9%

The company has a debt-to-equity ratio of 41.58, a quick ratio of 0.90 and a current ratio of 1.40. The company has a market cap of C$31.26 billion, a price-to-earnings ratio of 1,219.67, a price-to-earnings-growth ratio of -0.26 and a beta of 2.12. The company’s 50 day moving average price is C$28.50 and its 200 day moving average price is C$21.50.

Lundin Mining (TSE:LUN) last released its earnings results on Wednesday, November 5th. The mining company reported C$0.18 earnings per share for the quarter. The business had revenue of C$1.40 billion during the quarter. Lundin Mining had a net margin of 6.63% and a return on equity of 5.55%.

Lundin Mining Company Profile

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.