Lundin Mining (TSE:LUN) Upgraded to Strong-Buy at Canaccord Genuity Group

Lundin Mining (TSE:LUN) was upgraded by Canaccord Genuity Group from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks reports.

LUN has been the subject of a number of other research reports. ATB Cormark Capital Markets reduced their price objective on Lundin Mining from C$42.50 to C$41.50 and set an “outperform” rating for the company in a research report on Monday, August 24th. TD dropped their target price on Lundin Mining from C$43.00 to C$42.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. National Bank Financial cut their price target on Lundin Mining from C$43.50 to C$42.50 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Stifel Nicolaus boosted their price target on Lundin Mining from C$40.00 to C$42.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Finally, Barclays upped their price target on shares of Lundin Mining from C$42.00 to C$43.00 in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Lundin Mining has a consensus rating of “Moderate Buy” and a consensus price target of C$39.81.

Lundin Mining Stock Performance

TSE:LUN traded up C$1.54 during trading hours on Thursday, reaching C$29.59. The company had a trading volume of 3,074,650 shares, compared to its average volume of 2,650,224. The company has a current ratio of 1.60, a quick ratio of 0.90 and a debt-to-equity ratio of 2.88. Lundin Mining has a 52 week low of C$23.66 and a 52 week high of C$45.74. The firm has a market cap of C$25.19 billion, a price-to-earnings ratio of 16.91, a PEG ratio of -0.26 and a beta of 2.16. The firm’s 50 day moving average price is C$33.47 and its 200-day moving average price is C$35.80.

Lundin Mining (TSE:LUN) last released its quarterly earnings results on Wednesday, November 4th. The mining company reported C$0.46 earnings per share for the quarter. The firm had revenue of C$1.58 billion for the quarter. Lundin Mining had a return on equity of 22.97% and a net margin of 35.11%.

About Lundin Mining

Lundin Mining is a Canadian mining company headquartered in Vancouver, Canada with three operating mines in Brazil and Chile. We produce metals that underpin global development, supporting infrastructure, electrification, technological innovation, and economic resilience. Our strategic vision is to become a top ten global copper producer. To get there, we are executing a clear growth strategy, which includes advancing one of the world’s largest copper, gold, and silver projects in the Vicuna District on the border of Argentina and Chile, where we hold a 50% interest.