Lundin Mining (TSE:LUN) Sets New 52-Week High – Here’s Why

Lundin Mining Co. (TSE:LUN) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$32.16 and last traded at C$32.11, with a volume of 517444 shares changing hands. The stock had previously closed at C$29.71.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Morgan Stanley upped their price objective on Lundin Mining from C$25.80 to C$29.60 in a research note on Tuesday, December 16th. JPMorgan Chase & Co. decreased their price target on shares of Lundin Mining from C$28.00 to C$25.40 in a research report on Wednesday, December 3rd. CIBC raised their price target on shares of Lundin Mining from C$24.00 to C$30.00 in a report on Friday, December 12th. Royal Bank Of Canada lifted their price objective on shares of Lundin Mining from C$23.00 to C$29.00 in a research report on Wednesday, December 10th. Finally, Citigroup set a C$32.00 target price on shares of Lundin Mining and gave the company a “buy” rating in a research report on Monday, December 15th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$25.42.

Lundin Mining Stock Performance

The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 41.58. The company has a market cap of C$27.07 billion, a PE ratio of 1,056.00, a P/E/G ratio of -0.26 and a beta of 2.12. The firm’s 50-day simple moving average is C$26.50 and its two-hundred day simple moving average is C$20.14.

Lundin Mining (TSE:LUN) last posted its quarterly earnings data on Wednesday, November 5th. The mining company reported C$0.18 EPS for the quarter. Lundin Mining had a net margin of 6.63% and a return on equity of 5.55%. The business had revenue of C$1.40 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.