Lundin Mining (TSE:LUN) Trading 3.2% Higher

Lundin Mining Co. (TSE:LUN) traded up 3.2% during mid-day trading on Thursday . The stock traded as high as C$6.36 and last traded at C$6.36, 135,043 shares changed hands during trading. A decline of 94% from the average session volume of 2,313,770 shares. The stock had previously closed at C$6.16.

Several research analysts recently issued reports on the stock. BMO Capital Markets cut their target price on shares of Lundin Mining from C$8.50 to C$7.50 in a research note on Thursday, September 26th. CSFB dropped their target price on shares of Lundin Mining from C$9.00 to C$8.25 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Morgan Stanley dropped their target price on shares of Lundin Mining from C$8.20 to C$8.00 in a research report on Tuesday, September 24th. Haywood Securities dropped their target price on shares of Lundin Mining from C$9.50 to C$8.50 in a research report on Monday, September 9th. Finally, Cormark lifted their target price on shares of Lundin Mining from C$10.00 to C$10.50 in a research report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Lundin Mining presently has a consensus rating of “Buy” and an average price target of C$8.68.

The business’s fifty day moving average is C$6.36 and its 200-day moving average is C$6.58. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.49 and a quick ratio of 1.95. The firm has a market cap of $4.54 billion and a PE ratio of 57.89.

Lundin Mining (TSE:LUN) last released its earnings results on Wednesday, July 24th. The mining company reported C($0.01) earnings per share for the quarter, missing the consensus estimate of C$0.07 by C($0.08). The firm had revenue of C$493.94 million during the quarter. Analysts forecast that Lundin Mining Co. will post 0.57 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Friday, September 6th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.12 annualized dividend and a dividend yield of 1.89%. Lundin Mining’s dividend payout ratio is currently 82.88%.

In other news, insider Nemesia S.a.r.l. purchased 150,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of C$5.94 per share, for a total transaction of C$890,790.00. Following the completion of the transaction, the insider now owns 93,822,698 shares of the company’s stock, valued at C$557,175,474.34.

About Lundin Mining (TSE:LUN)

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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