Citigroup Issues Positive Forecast for Lundin Mining (TSE:LUN) Stock Price

Lundin Mining (TSE:LUN) had its price objective upped by research analysts at Citigroup from C$32.00 to C$41.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the mining company’s stock. Citigroup’s price objective indicates a potential upside of 14.85% from the company’s current price.

A number of other analysts have also recently issued reports on LUN. Canadian Imperial Bank of Commerce upped their target price on Lundin Mining from C$30.00 to C$37.00 in a research report on Wednesday, February 4th. Ci Capital raised their target price on shares of Lundin Mining from C$32.00 to C$41.00 in a research report on Wednesday. Jefferies Financial Group upped their price target on shares of Lundin Mining from C$32.00 to C$38.00 in a research report on Monday, January 12th. Ventum Financial increased their price target on shares of Lundin Mining from C$25.00 to C$32.00 in a research note on Monday, December 22nd. Finally, TD Securities lifted their price objective on shares of Lundin Mining from C$28.00 to C$42.00 in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$33.54.

Lundin Mining Stock Up 3.7%

Shares of TSE:LUN traded up C$1.28 during trading on Wednesday, hitting C$35.70. 1,225,253 shares of the company were exchanged, compared to its average volume of 2,916,920. The firm’s 50 day moving average price is C$31.30 and its 200-day moving average price is C$23.69. Lundin Mining has a 12-month low of C$8.94 and a 12-month high of C$38.85. The company has a debt-to-equity ratio of 41.58, a current ratio of 1.40 and a quick ratio of 0.90. The stock has a market capitalization of C$30.50 billion, a P/E ratio of 1,190.00, a PEG ratio of -0.26 and a beta of 2.08.

Lundin Mining (TSE:LUN) last announced its quarterly earnings results on Wednesday, November 5th. The mining company reported C$0.18 earnings per share for the quarter. The firm had revenue of C$1.40 billion during the quarter. Lundin Mining had a net margin of 6.63% and a return on equity of 5.55%.

Lundin Mining Company Profile

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.