Credit Suisse Group lowers Lundin Mining (OTCMKTS:LUNMF) price target to C$7.75
A number of other brokerages have also published reports on LUNMF. TD Securities downgraded the shares of Lundin Mining from a “buy” rating to a “hold” rating in a research note on Friday, July 29. Stifel Nicolaus lowered his price target on Lundin Mining shares from C$14.00 to C$12.50 in a Friday, July 29 research note. Raymond James lowered his price target on Lundin Mining from CA$12.00 to CA$11.00 in a Wednesday, August 24 research note. Morgan Stanley lowered its price target on Lundin Mining from SEK 94 to SEK 88 and set an “equal weight” rating for the company in a Thursday, June 23 research report. Finally, Scotiabank lowered its price target on Lundin Mining from C$10.00 to C$8.50 in a Friday, July 29 research report. Thirteen equity research analysts gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.63.
Lundin Mining Price Performance
Shares of LUNMF rose $0.06 in Thursday’s midday session, hitting $5.13. The stock recorded a trading volume of 38,966 shares, compared to an average volume of 77,739. The company has a market capitalization of $3.99 billion, a PE ratio of 5.40 and a beta of 1.59. . Lundin Mining has a 1-year low of $4.84 and a 1-year high of $11.25. The stock’s 50-day moving average is $5.58 and its 200-day moving average is $7.85.
Lundin Mining (OTCMKTS:LUNMF – Get a rating) last released its quarterly results on Wednesday, July 27. The basic materials company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.15 per ($0.20). Lundin Mining had a return on equity of 13.88% and a net margin of 21.21%. The company had revenue of $590.20 million in the quarter. As a group, equity research analysts expect Lundin Mining to post earnings per share of 0.63 for the current fiscal year.
About Lundin Mining
Lundin Mining Corporation, a diversified base metals mining company, is engaged in the exploration, development and operation of mineral properties in Brazil, Chile, Portugal, Sweden and the United States. It mainly produces copper, zinc, nickel and gold, as well as lead, silver and other metals. The company holds 100% interest 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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