Lundin Mining (TSE:LUN) Shares Up 1.1% Following Insider Buying Activity

Lundin Mining Co. (TSE:LUN) shot up 1.1% during trading on Monday after an insider bought additional shares in the company. The company traded as high as C$10.06 and last traded at C$9.60. Approximately 851,212 shares were traded during mid-day trading, a decline of 67% from the average session volume of 2,607,199 shares. The stock had previously closed at C$9.50.

Specifically, insider Nemesia S.a.r.l. bought 2,000,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were bought at an average price of C$11.35 per share, for a total transaction of C$22,700,000.00. Also, Director Adam Ian Lundin purchased 150,000 shares of the firm’s stock in a transaction on Thursday, April 3rd. The shares were acquired at an average cost of C$10.82 per share, for a total transaction of C$1,623,000.00.

Analysts Set New Price Targets

Several analysts recently issued reports on LUN shares. UBS Group decreased their target price on Lundin Mining from C$17.00 to C$15.50 in a research note on Tuesday, January 7th. Stifel Nicolaus cut their target price on shares of Lundin Mining from C$17.50 to C$16.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Stifel Canada raised shares of Lundin Mining to a “strong-buy” rating in a report on Wednesday, March 19th. Scotiabank cut Lundin Mining from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, Desjardins upgraded shares of Lundin Mining to a “moderate buy” rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$17.09.

Lundin Mining Stock Performance

The firm has a 50 day moving average of C$12.10 and a 200-day moving average of C$12.95. The company has a market cap of C$5.98 billion, a P/E ratio of 19.43, a PEG ratio of -0.26 and a beta of 1.66. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 41.58.

Lundin Mining Company Profile

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.