BMO Capital Markets Upgrades Lundin Mining (TSE:LUN) to Outperform

BMO Capital Markets upgraded shares of Lundin Mining (TSE:LUN) from a market perform rating to an outperform rating in a report issued on Wednesday, BayStreet.CA reports. The firm currently has C$16.00 price target on the mining company’s stock, up from their previous price target of C$12.00.

Other equities analysts also recently issued reports about the stock. CIBC reduced their price objective on shares of Lundin Mining from C$13.00 to C$12.00 and set a neutral rating for the company in a report on Tuesday, January 16th. JPMorgan Chase & Co. lowered their price objective on shares of Lundin Mining from C$8.90 to C$8.40 in a research report on Friday, January 19th. Pi Financial restated a buy rating on shares of Lundin Mining in a research report on Friday, March 1st. Canaccord Genuity Group dropped their price target on shares of Lundin Mining from C$11.00 to C$10.75 in a research note on Monday, January 22nd. Finally, Veritas Investment Research reissued a sell rating on shares of Lundin Mining in a research note on Friday, December 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of C$12.59.

Lundin Mining Stock Performance

Shares of LUN opened at C$13.86 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 23.15. The company’s fifty day moving average is C$11.65 and its 200-day moving average is C$10.40. The firm has a market cap of C$10.73 billion, a price-to-earnings ratio of 33.00, a price-to-earnings-growth ratio of -0.26 and a beta of 1.81. Lundin Mining has a 12 month low of C$8.18 and a 12 month high of C$13.97.

Lundin Mining (TSE:LUN) last posted its quarterly earnings data on Wednesday, February 21st. The mining company reported C$0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.15 by C($0.01). Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%. The firm had revenue of C$1.44 billion for the quarter, compared to the consensus estimate of C$1.39 billion. Equities analysts expect that Lundin Mining will post 0.8100183 EPS for the current fiscal year.

Lundin Mining Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, March 21st. Lundin Mining’s dividend payout ratio (DPR) is presently 85.71%.

Insider Buying and Selling

In related news, Senior Officer Annie Laurenson sold 5,200 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$13.30, for a total transaction of C$69,160.00. 16.06% of the stock is currently owned by corporate insiders.

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.