Lundin Mining (TSE:LUN) Given New C$42.00 Price Target at Scotiabank

Lundin Mining (TSE:LUN) had its target price boosted by research analysts at Scotiabank from C$36.00 to C$42.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a “sector outperform” rating on the mining company’s stock. Scotiabank’s target price would indicate a potential upside of 6.19% from the stock’s previous close.

LUN has been the subject of several other research reports. TD Securities raised their price objective on Lundin Mining from C$42.00 to C$45.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. BMO Capital Markets raised their price objective on Lundin Mining from C$36.00 to C$45.00 in a research report on Wednesday, April 22nd. TD lowered their price objective on Lundin Mining from C$45.00 to C$44.00 and set a “buy” rating for the company in a research report on Friday, April 10th. National Bank Financial raised their price objective on Lundin Mining from C$42.00 to C$43.50 and gave the company a “sector perform” rating in a research report on Wednesday, April 15th. Finally, Royal Bank Of Canada raised their price objective on Lundin Mining from C$29.00 to C$42.00 in a research report on Thursday, March 12th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$39.73.

Lundin Mining Trading Up 4.5%

Shares of Lundin Mining stock traded up C$1.69 on Monday, hitting C$39.55. The stock had a trading volume of 1,237,629 shares, compared to its average volume of 2,875,635. The stock’s 50-day simple moving average is C$38.35 and its two-hundred day simple moving average is C$34.72. Lundin Mining has a one year low of C$13.37 and a one year high of C$45.74. The stock has a market cap of C$33.83 billion, a price-to-earnings ratio of 23.68, a PEG ratio of -0.26 and a beta of 2.24. The company has a quick ratio of 0.90, a current ratio of 1.81 and a debt-to-equity ratio of 5.55.

Lundin Mining (TSE:LUN) last announced its quarterly earnings results on Wednesday, May 6th. The mining company reported C$0.43 EPS for the quarter. Lundin Mining had a return on equity of 23.11% and a net margin of 35.92%.The company had revenue of C$1.61 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.