CIBC Raises Lundin Mining (TSE:LUN) Price Target to C$16.00

Lundin Mining (TSE:LUN) had its target price raised by CIBC from C$15.00 to C$16.00 in a research note published on Thursday, BayStreet.CA reports. The brokerage currently has a neutral rating on the mining company’s stock.

Several other brokerages have also weighed in on LUN. Morgan Stanley increased their target price on shares of Lundin Mining from C$16.40 to C$20.00 in a research note on Wednesday, May 8th. Eight Capital lowered shares of Lundin Mining from a buy rating to a neutral rating and increased their target price for the stock from C$13.00 to C$16.00 in a research note on Monday, April 22nd. National Bankshares increased their target price on shares of Lundin Mining from C$18.00 to C$19.50 and gave the stock an outperform rating in a research note on Monday, June 10th. Deutsche Bank Aktiengesellschaft lowered shares of Lundin Mining from a buy rating to a hold rating in a research note on Tuesday, April 9th. Finally, Bank of America increased their target price on shares of Lundin Mining from C$12.50 to C$18.50 in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lundin Mining presently has a consensus rating of Hold and an average price target of C$16.63.

Lundin Mining Trading Down 3.1 %

Shares of LUN opened at C$14.47 on Thursday. The company has a current ratio of 1.57, a quick ratio of 0.90 and a debt-to-equity ratio of 25.05. Lundin Mining has a 12-month low of C$8.18 and a 12-month high of C$17.97. The firm has a 50-day moving average price of C$15.77 and a 200 day moving average price of C$13.10. The firm has a market capitalization of C$11.23 billion, a P/E ratio of 76.16, a P/E/G ratio of -0.26 and a beta of 1.82.

Lundin Mining (TSE:LUN) last announced its quarterly earnings data on Wednesday, May 1st. The mining company reported C$0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.10 by C($0.02). Lundin Mining had a net margin of 3.04% and a return on equity of 3.49%. The firm had revenue of C$1.26 billion during the quarter, compared to analysts’ expectations of C$1.27 billion. Sell-side analysts forecast that Lundin Mining will post 0.7934045 EPS for the current year.

Lundin Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Friday, May 31st were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.36 dividend on an annualized basis and a yield of 2.49%. Lundin Mining’s payout ratio is currently 189.47%.

Insiders Place Their Bets

In other news, Senior Officer Annie Laurenson sold 12,500 shares of Lundin Mining stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of C$17.20, for a total value of C$215,000.00. In other news, Senior Officer Teitur Nolsoe Poulsen sold 8,834 shares of Lundin Mining stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of C$17.64, for a total value of C$155,831.76. Also, Senior Officer Annie Laurenson sold 12,500 shares of Lundin Mining stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of C$17.20, for a total transaction of C$215,000.00. 15.70% of the stock is owned by corporate insiders.

Lundin Mining Company Profile

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.