Lundin Mining (TSE:LUN) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Lundin Mining Co. (TSE:LUN) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$36.35 and traded as low as C$33.72. Lundin Mining shares last traded at C$34.64, with a volume of 2,016,604 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Lundin Mining from C$40.80 to C$48.20 in a report on Friday, June 5th. Canaccord Genuity Group downgraded Lundin Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Barclays raised their price objective on Lundin Mining from C$42.00 to C$43.00 in a research note on Thursday, July 16th. Scotiabank increased their price target on Lundin Mining from C$36.00 to C$42.00 and gave the company a “sector outperform” rating in a report on Monday, June 15th. Finally, TD dropped their price objective on Lundin Mining from C$43.00 to C$42.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$39.71.

Lundin Mining Stock Down 2.7%

The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.90 and a current ratio of 1.60. The company has a market capitalization of C$29.68 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of -0.26 and a beta of 2.23. The firm’s 50-day simple moving average is C$35.80 and its 200-day simple moving average is C$36.33.

Lundin Mining (TSE:LUN) last announced its quarterly earnings data on Wednesday, August 5th. The mining company reported C$0.43 EPS for the quarter. Lundin Mining had a net margin of 35.11% and a return on equity of 22.97%. The business had revenue of C$1.72 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.