Lundin Mining (TSE:LUN) had its target price lowered by TD Securities from C$9.50 to C$9.00 in a report issued on Monday, July 22nd, BayStreet.CA reports.
Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada increased their target price on shares of Lundin Mining from C$8.00 to C$9.00 and gave the stock an outperform rating in a research report on Tuesday, April 16th. Morgan Stanley reduced their target price on shares of Lundin Mining from C$8.70 to C$8.60 and set a buy rating on the stock in a research note on Tuesday, March 26th. National Bank Financial reduced their target price on shares of Lundin Mining from C$11.00 to C$10.00 and set an outperform rating on the stock in a research note on Friday, June 28th. CIBC raised their target price on shares of Lundin Mining from C$9.00 to C$9.50 in a research note on Tuesday, April 23rd. Finally, Eight Capital lifted their price objective on shares of Lundin Mining from C$10.00 to C$11.00 in a research note on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of Buy and an average target price of C$9.03.
Shares of LUN stock traded down C$0.23 during mid-day trading on Monday, reaching C$5.97. The company’s stock had a trading volume of 1,559,307 shares, compared to its average volume of 2,392,662. The company has a market capitalization of $4.36 billion and a P/E ratio of 54.77. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.95 and a current ratio of 2.49. The firm’s 50-day moving average is C$6.73. Lundin Mining has a 1-year low of C$4.70 and a 1-year high of C$7.96.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Friday, September 6th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.12 dividend on an annualized basis and a yield of 2.01%. Lundin Mining’s dividend payout ratio (DPR) is 82.88%.
In other news, insider Nemesia S.a.r.l. acquired 150,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of C$5.94 per share, with a total value 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.
Lundin Mining Company Profile
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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