Lundin Mining (TSE:LUN – Get Rating) had its target price cut by CSFB from C$8.50 to C$7.75 in a note issued to investors on Thursday, BayStreet.CA reports. CSFB’s price target would indicate a potential upside of 12.65% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. Raymond James reduced their target price on Lundin Mining from C$16.00 to C$12.00 and set a “market perform” rating for the company in a report on Tuesday, July 19th. The Goldman Sachs Group downgraded Lundin Mining to a “hold” rating and set a C$69.00 target price for the company. in a report on Wednesday, July 13th. Deutsche Bank Aktiengesellschaft cut their price target on Lundin Mining from C$10.25 to C$8.00 in a research note on Tuesday, August 9th. JPMorgan Chase & Co. cut their price target on Lundin Mining from C$12.60 to C$10.60 in a research note on Tuesday, August 16th. Finally, Credit Suisse Group dropped their price objective on Lundin Mining to C$7.75 and set a “hold” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$13.36.
Lundin Mining Stock Performance
TSE:LUN traded up C$0.16 during midday trading on Thursday, reaching C$6.88. The stock had a trading volume of 914,979 shares, compared to its average volume of 2,564,294. The firm has a fifty day simple moving average of C$7.22 and a two-hundred day simple moving average of C$10.04. Lundin Mining has a 12-month low of C$6.40 and a 12-month high of C$14.00. The company has a quick ratio of 1.08, a current ratio of 1.50 and a debt-to-equity ratio of 0.52. The stock has a market cap of C$5.31 billion and a P/E ratio of 5.55.
Lundin Mining (TSE:LUN – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The mining company reported C($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.21). The company had revenue of C$753.31 million for the quarter, compared to analysts’ expectations of C$841.10 million. On average, equities analysts expect that Lundin Mining will post 0.94 EPS for the current year.
Insider Activity at Lundin Mining
In other Lundin Mining news, insider Nemesia S.a.r.l. acquired 500,000 shares of the company’s stock in a transaction on Tuesday, June 14th. The shares were purchased at an average price of C$10.15 per share, for a total transaction of C$5,073,250.00. Following the completion of the purchase, the insider now directly owns 97,172,698 shares of the company’s stock, valued at C$985,962,780.26. In other news, insider Nemesia S.a.r.l. bought 500,000 shares of the stock in a transaction dated Tuesday, June 14th. The shares were bought at an average price of C$10.15 per share, for a total transaction of C$5,073,250.00. Following the completion of the purchase, the insider now owns 97,172,698 shares in the company, valued at C$985,962,780.26. Also, Senior Officer Andrew Hastings bought 5,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were purchased at an average price of C$6.60 per share, for a total transaction of C$33,000.00. Following the purchase, the insider now owns 31,466 shares of the company’s stock, valued at approximately C$207,675.60. Over the last ninety days, insiders purchased 1,008,300 shares of company stock valued at $9,712,300.
About Lundin Mining
Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Brazil, Chile, Portugal, Sweden, and the United States. It primarily produces copper, zinc, nickel, and gold, as well as lead, silver, and other metals. The company holds 100% interests in the Chapada mine located in Brazil; the Neves-Corvo mine located in Portugal; the Eagle mine located in the United States; and the Zinkgruvan mine located in Sweden.