Lundin Mining (TSE:LUN) Price Target Cut to C$8.50

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Lundin Mining (TSE:LUN) had its price objective cut by National Bank Financial from C$9.00 to C$8.50 in a research note published on Thursday, BayStreet.CA reports. They currently have an outperform rating on the mining company’s stock. National Bank Financial also issued estimates for Lundin Mining’s FY2019 earnings at $0.20 EPS and FY2020 earnings at $0.48 EPS.

A number of other analysts have also recently weighed in on LUN. CIBC lowered their price target on Lundin Mining from C$9.00 to C$8.00 in a research report on Friday, September 6th. Bank of America lowered their price target on Lundin Mining from C$9.00 to C$8.25 in a research report on Friday, August 16th. BMO Capital Markets lowered their price target on Lundin Mining from C$8.25 to C$8.00 in a research report on Thursday, July 25th. TD Securities lowered their price target on Lundin Mining from C$9.50 to C$9.00 in a research report on Monday, July 22nd. Finally, Cormark upped their price target on Lundin Mining from C$10.00 to C$10.50 in a research report on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Lundin Mining currently has a consensus rating of Buy and an average price target of C$8.76.

LUN opened at C$6.87 on Thursday. The stock has a market cap of $5.05 billion and a PE ratio of 63.03. The company has a current ratio of 2.49, a quick ratio of 1.95 and a debt-to-equity ratio of 1.76. Lundin Mining has a 1 year low of C$4.70 and a 1 year high of C$7.96. The stock’s 50 day simple moving average is C$6.21 and its 200-day simple moving average is C$6.60.

Lundin Mining (TSE:LUN) last released its quarterly earnings data on Wednesday, July 24th. The mining company reported C($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.07 by C($0.08). The firm had revenue of C$493.94 million during the quarter. Equities analysts forecast that Lundin Mining will post 0.57 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Friday, September 6th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Thursday, September 5th. Lundin Mining’s dividend payout ratio (DPR) is 82.88%.

In related news, insider Nemesia S.a.r.l. purchased 150,000 shares of the stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of C$5.94 per share, for a total transaction of C$890,790.00. Following the completion of the transaction, the insider now directly owns 93,822,698 shares of the company’s stock, valued at approximately C$557,175,474.34.

About Lundin Mining

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, the United States, Portugal, and Sweden. It primarily produces copper, zinc, and nickel, as well as gold, lead, silver, and other metals. The company holds 100% interests in the Eagle mine located in the United States; the Neves-Corvo mine located in Portugal; and the Zinkgruvan mine located in Sweden, as well as 80% interest in the Candelaria and Ojos del Salado mining complex located in Chile; and 24% interest in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland.

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Analyst Recommendations for Lundin Mining (TSE:LUN)

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