Raymond James Raises Lundin Mining (TSE:LUN) Price Target to C$15.00

Lundin Mining (TSE:LUN) had its price target hoisted by stock analysts at Raymond James from C$13.00 to C$15.00 in a report released on Wednesday, BayStreet.CA reports. Raymond James’ price objective indicates a potential downside of 1.64% from the stock’s current price. Raymond James also issued estimates for Lundin Mining’s Q1 2024 earnings at $0.11 EPS, Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.25 EPS, Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.18 EPS and FY2024 earnings at $0.68 EPS.

Several other research firms have also recently weighed in on LUN. 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, March 26th. UBS Group upped their price target on shares of Lundin Mining from C$12.50 to C$18.25 in a report on Tuesday, April 9th. Jefferies Financial Group increased their price objective on Lundin Mining from C$18.00 to C$20.00 and gave the company a “buy” rating in a report on Friday, April 12th. Eight Capital downgraded Lundin Mining from a “buy” rating to a “neutral” rating and increased their price objective for the company from C$13.00 to C$16.00 in a report on Monday. Finally, Pi Financial restated a “buy” rating on shares of Lundin Mining in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$14.93.

Lundin Mining Trading Down 3.4 %

Shares of LUN stock opened at C$15.25 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 23.15. The stock has a market cap of C$11.82 billion, a P/E ratio of 36.31, a price-to-earnings-growth ratio of -0.26 and a beta of 1.85. The stock has a 50 day simple moving average of C$13.18 and a 200 day simple moving average of C$11.08. Lundin Mining has a 1 year low of C$8.18 and a 1 year high of C$16.51.

Lundin Mining (TSE:LUN) last issued its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.15 by C($0.01). The company had revenue of C$1.44 billion during the quarter, compared to the consensus estimate of C$1.39 billion. Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. On average, research analysts predict that Lundin Mining will post 0.8396226 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lundin Mining news, Senior Officer Annie Laurenson sold 5,200 shares of Lundin Mining stock in a transaction that occurred on 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 15.70% of the company’s stock.

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.