Metals & Mining News

Lundin Mining (OTCMKTS:LUNMF) Hits New 1-Year Low After Analyst Downgrade


Shares of Lundin Mining Co. (OTCMKTS:LUNMF – Get Rating) hit a new 52-week low during mid-day trading on Thursday after Morgan Stanley lowered their price target on the stock from SEK 94 to SEK 88. Morgan Stanley currently has an equal weight rating on the stock. Lundin Mining traded as low as $6.28 and last traded at $6.37, with a volume of 138507 shares changing hands. The stock had previously closed at $6.96.

LUNMF has been the subject of a number of other reports. JPMorgan Chase & Co. reduced their price target on shares of Lundin Mining from SEK 112 to SEK 110 and set an “overweight” rating for the company in a research report on Thursday, April 21st. Barclays boosted their price target on shares of Lundin Mining from C$10.00 to C$12.00 in a research report on Thursday, April 21st. National Bank Financial upped their target price on shares of Lundin Mining from C$13.50 to C$14.00 in a research report on Friday, May 6th. Scotiabank lowered their price target on Lundin Mining from C$13.50 to C$13.00 in a research report on Friday, April 29th. Finally, Raymond James upped their price objective on Lundin Mining from C$15.00 to C$16.00 in a report on Wednesday, April 20th. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.75.

The company has a market capitalization of $4.96 billion, a P/E ratio of 5.16 and a beta of 1.64. The company has a 50-day moving average of $8.68 and a two-hundred day moving average of $8.87.

Lundin Mining (OTCMKTS:LUNMF – Get Rating) last released its earnings results on Wednesday, April 27th. The basic materials company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. Lundin Mining had a return on equity of 19.59% and a net margin of 27.68%. The business had revenue of $991.10 million for the quarter. On average, equities analysts predict that Lundin Mining Co. will post 1.46 earnings per share for the current fiscal year.

The firm also recently declared a dividend, which was paid on Wednesday, June 22nd. Stockholders of record on Friday, June 3rd were issued a dividend of $0.0701 per share. This represents a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, June 2nd. Lundin Mining’s payout ratio is currently 20.74%.

Lundin Mining Company Profile (OTCMKTS:LUNMF)

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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