Lundin Mining (TSE:LUN) Stock Passes Above 200-Day Moving Average – Time to Sell?

Lundin Mining Co. (TSE:LUN)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$13.00 and traded as high as C$13.19. Lundin Mining shares last traded at C$13.16, with a volume of 2,035,645 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LUN. Raymond James decreased their target price on Lundin Mining from C$15.00 to C$14.00 and set a “market perform” rating for the company in a report on Thursday, January 16th. Scotiabank cut shares of Lundin Mining from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Jefferies Financial Group dropped their price objective on Lundin Mining from C$20.00 to C$16.00 in a report on Monday, January 6th. The Goldman Sachs Group set a C$16.60 price target on shares of Lundin Mining and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, UBS Group lowered their price target on shares of Lundin Mining from C$17.00 to C$15.50 in a research report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lundin Mining presently has an average rating of “Moderate Buy” and an average target price of C$17.15.

Lundin Mining Stock Performance

The firm has a market capitalization of C$7.87 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66. The stock has a 50-day moving average price of C$12.20 and a 200-day moving average price of C$12.99. The company has a debt-to-equity ratio of 41.58, a current ratio of 1.40 and a quick ratio of 0.90.

About Lundin Mining

Lundin Mining Corp is a diversified Canadian base metals mining company with operations in Brazil Chile Portugal Sweden and the United States of America producing copper zinc gold and nickel. Its material mineral properties include Candelaria Chapada Eagle and Neves-Corvo.