Lundin Mining (TSE:LUN) Reaches New 12-Month High on Analyst Upgrade

Lundin Mining Co. (TSE:LUN) shares reached a new 52-week high during trading on Thursday after Morgan Stanley raised their price target on the stock from C$12.60 to C$16.40. Morgan Stanley currently has an overweight rating on the stock. Lundin Mining traded as high as C$13.84 and last traded at C$13.79, with a volume of 539486 shares trading hands. The stock had previously closed at C$13.40.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. dropped their price target on shares of Lundin Mining from C$8.90 to C$8.40 in a research report on Friday, January 19th. Stifel Nicolaus set a C$14.50 target price on Lundin Mining and gave the stock a “buy” rating in a research note on Tuesday. Raymond James lifted their price target on Lundin Mining from C$9.50 to C$11.50 in a research note on Wednesday, March 20th. Veritas Investment Research restated a “sell” rating on shares of Lundin Mining in a research report on Friday, December 8th. Finally, CIBC cut their target price on shares of Lundin Mining from C$13.00 to C$12.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$12.59.

Insider Activity

In other Lundin Mining news, Senior Officer Annie Laurenson sold 5,200 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$13.30, for a total transaction of C$69,160.00. Insiders own 16.06% of the company’s stock.

Lundin Mining Trading Up 3.4 %

The firm’s 50-day simple moving average is C$11.49 and its 200-day simple moving average is C$10.35. The firm has a market capitalization of C$10.73 billion, a P/E ratio of 33.19, a price-to-earnings-growth ratio of -0.26 and a beta of 1.81. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 23.15.

Lundin Mining (TSE:LUN) last released its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.01). The firm had revenue of C$1.44 billion for the quarter, compared to analysts’ expectations of C$1.39 billion. Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. Analysts anticipate that Lundin Mining Co. will post 0.8100183 EPS for the current year.

Lundin Mining Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, March 21st. Lundin Mining’s dividend payout ratio (DPR) is presently 85.71%.

About Lundin Mining

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.