Royal Bank of Canada Increases Lundin Mining (TSE:LUN) Price Target to C$17.00

Lundin Mining (TSE:LUN) had its target price increased by Royal Bank of Canada from C$13.00 to C$17.00 in a report published on Friday morning, BayStreet.CA reports. They currently have a sector perform rating on the mining company’s stock.

A number of other analysts have also recently commented on the stock. Canaccord Genuity Group increased their price target on shares of Lundin Mining from C$11.00 to C$16.50 in a research note on Wednesday, April 17th. Jefferies Financial Group boosted their price target on Lundin Mining from C$18.00 to C$20.00 and gave the company a buy rating in a research note on Friday, April 12th. Pi Financial reaffirmed a buy rating on shares of Lundin Mining in a report on Friday, March 1st. Morgan Stanley upped their price objective on shares of Lundin Mining from C$16.30 to C$16.40 in a research report on Tuesday, April 23rd. Finally, UBS Group boosted their price objective on shares of Lundin Mining from C$12.50 to C$18.25 in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of C$15.23.

Lundin Mining Price Performance

Shares of TSE LUN opened at C$15.84 on Friday. The company has a debt-to-equity ratio of 23.15, a current ratio of 1.48 and a quick ratio of 0.90. The business has a 50-day moving average of C$13.99 and a 200-day moving average of C$11.48. The stock has a market capitalization of C$12.28 billion, a price-to-earnings ratio of 37.71, a PEG ratio of -0.26 and a beta of 1.85. Lundin Mining has a fifty-two week low of C$8.18 and a fifty-two week high of C$16.51.

Lundin Mining (TSE:LUN) last issued its quarterly earnings results on Wednesday, May 1st. The mining company reported C$0.08 EPS for the quarter, missing the consensus estimate of C$0.10 by C($0.02). The company had revenue of C$1.26 billion for the quarter, compared to analyst estimates of C$1.27 billion. Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. As a group, sell-side analysts predict that Lundin Mining will post 0.8396226 earnings per share for the current fiscal year.

Lundin Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Friday, May 31st. Lundin Mining’s payout ratio is 85.71%.

Insider Activity

In related news, Senior Officer Annie Laurenson sold 5,200 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$13.30, for a total value of C$69,160.00. Insiders own 15.70% of the company’s stock.

Lundin Mining Company Profile

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.