Lundin Mining (TSE:LUN) Given New C$16.00 Price Target at Royal Bank of Canada

Lundin Mining (TSE:LUN) had its price objective cut by Royal Bank of Canada from C$20.00 to C$16.00 in a report issued on Tuesday, BayStreet.CA reports. They currently have a sector perform rating on the mining company’s stock.

LUN has been the topic of a number of other research reports. Ventum Financial cut their price target on shares of Lundin Mining from C$20.00 to C$18.50 in a report on Thursday, August 22nd. National Bankshares reduced their price target on Lundin Mining from C$19.50 to C$18.50 and set an outperform rating on the stock in a report on Monday, July 15th. CIBC increased their price objective on Lundin Mining from C$16.00 to C$17.00 and gave the stock a neutral rating in a report on Tuesday, August 6th. Eight Capital lifted their price objective on Lundin Mining from C$16.00 to C$17.50 in a research report on Thursday, July 11th. Finally, Canaccord Genuity Group decreased their target price on Lundin Mining from C$17.50 to C$16.50 in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of C$17.51.

Lundin Mining Stock Down 0.3 %

LUN opened at C$11.49 on Tuesday. Lundin Mining has a 12 month low of C$8.18 and a 12 month high of C$17.97. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 24.64. The business’s 50-day moving average price is C$13.86 and its 200-day moving average price is C$14.39. The company has a market cap of C$8.93 billion, a P/E ratio of 41.04, a P/E/G ratio of -0.26 and a beta of 1.67.

Lundin Mining (TSE:LUN) last announced its quarterly earnings results on Tuesday, July 30th. The mining company reported C$0.22 EPS for the quarter, missing analysts’ consensus estimates of C$0.25 by C($0.03). Lundin Mining had a return on equity of 5.04% and a net margin of 4.21%. The company had revenue of C$1.48 billion during the quarter, compared to analysts’ expectations of C$1.51 billion. On average, equities analysts expect that Lundin Mining will post 0.8613678 EPS for the current year.

Insider Activity

In related news, Director Jack Oliver Lundin acquired 65,000 shares of Lundin Mining stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of C$12.55 per share, with a total value of C$815,854.00. Company insiders own 15.70% of the company’s stock.

About Lundin Mining

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, Brazil, the United States, Portugal, Sweden, and Argentina. It primarily produces copper, zinc, gold, nickel, and molybdenum, as well as lead, silver, and other metals.