Lundin Mining (TSE:LUN) Hits New 1-Year Low – Here’s What Happened

Lundin Mining Co. (TSE:LUN)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$10.83 and last traded at C$10.98, with a volume of 1269761 shares traded. The stock had previously closed at C$11.81.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Desjardins upgraded Lundin Mining to a “moderate buy” rating in a report on Thursday. Scotiabank lowered shares of Lundin Mining from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Stifel Canada raised shares of Lundin Mining to a “strong-buy” rating in a research report on Wednesday, March 19th. UBS Group dropped their price objective on shares of Lundin Mining from C$17.00 to C$15.50 in a report on Tuesday, January 7th. Finally, Jefferies Financial Group lowered their target price on Lundin Mining from C$20.00 to C$16.00 in a report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$17.09.

Lundin Mining Stock Down 10.5 %

The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 41.58. The company has a market capitalization of C$5.81 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66. The firm’s 50 day moving average price is C$12.10 and its two-hundred day moving average price is C$12.94.

Insider Buying and Selling

In related news, Director Adam Ian Lundin purchased 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average price of C$10.82 per share, for a total transaction of C$1,623,000.00. 15.70% of the stock is owned by insiders.

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.