Eight Capital upgraded shares of Lundin Mining (TSE:LUN – Free Report) from a neutral rating to a buy rating in a report released on Thursday morning, BayStreet.CA reports. Eight Capital currently has C$12.50 target price on the mining company’s stock, up from their previous target price of C$12.00.
A number of other brokerages have also issued reports on LUN. BMO Capital Markets raised their price target on shares of Lundin Mining from C$10.50 to C$11.00 in a report on Friday, July 14th. Morgan Stanley decreased their target price on shares of Lundin Mining from C$13.00 to C$12.90 in a report on Monday, October 16th. CIBC lifted their price target on shares of Lundin Mining from C$21.00 to C$22.00 in a research note on Friday, July 14th. Raymond James reduced their price target on shares of Lundin Mining from C$10.00 to C$9.50 and set a market perform rating for the company in a research note on Friday, October 20th. Finally, Canaccord Genuity Group cut their target price on shares of Lundin Mining from C$13.00 to C$11.50 and set a buy rating for the company in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of C$12.03.
Read Our Latest Analysis on LUN
Lundin Mining Price Performance
LUN stock opened at C$8.90 on Thursday. The company has a debt-to-equity ratio of 7.46, a quick ratio of 0.90 and a current ratio of 1.16. Lundin Mining has a 52 week low of C$7.35 and a 52 week high of C$11.93. The firm’s fifty day moving average is C$9.68 and its 200 day moving average is C$10.29. The firm has a market cap of C$6.88 billion, a P/E ratio of 14.59, a P/E/G ratio of -0.26 and a beta of 1.71.
Lundin Mining Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Friday, December 1st will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Thursday, November 30th. Lundin Mining’s payout ratio is currently 59.02%.
Lundin Mining Company Profile
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Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Brazil, Chile, Portugal, Sweden, and the United States. It primarily produces copper, zinc, nickel, and gold, as well as lead, silver, and other metals. The company holds 100% interests in the Chapada mine located in Brazil; the Neves-Corvo mine located in Portugal; the Eagle mine located in the United States; and the Zinkgruvan mine located in Sweden.
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