National Bankshares Issues Positive Forecast for Lundin Mining (TSE:LUN) Stock Price

Lundin Mining (TSE:LUN - Get Free Report) had its price target lifted by research analysts at National Bankshares from C$17.00 to C$17.50 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the mining company's stock. National Bankshares' price objective suggests a potential upside of 80.60% from the stock's current price.

A number of other brokerages have also recently weighed in on LUN. Stifel Canada raised Lundin Mining to a "strong-buy" rating in a research note on Wednesday, March 19th. The Goldman Sachs Group set a C$16.60 price objective on shares of Lundin Mining and gave the stock a "buy" rating in a research note on Thursday, March 6th. UBS Group decreased their target price on Lundin Mining from C$17.00 to C$15.50 in a research report on Tuesday, January 7th. Jefferies Financial Group reduced their price objective on Lundin Mining from C$20.00 to C$16.00 in a research note on Monday, January 6th. Finally, Scotiabank downgraded Lundin Mining from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 15th. 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 stock. According to MarketBeat.com, Lundin Mining has an average rating of "Moderate Buy" and an average target price of C$17.09.

Lundin Mining Price Performance

TSE:LUN traded up C$0.19 during trading hours on Wednesday, reaching C$9.69. 3,426,902 shares of the company's stock were exchanged, compared to its average volume of 2,639,262. Lundin Mining has a 12 month low of C$9.09 and a 12 month high of C$17.97. The business's 50-day simple moving average is C$12.10 and its two-hundred day simple moving average is C$12.95. The company has a market capitalization of C$5.92 billion, a P/E ratio of 19.23, a price-to-earnings-growth 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.

Insiders Place Their Bets

In related news, insider Nemesia S.a.r.l. bought 2,000,000 shares of Lundin Mining stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired 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 stock in a transaction that occurred on Thursday, April 3rd. The shares were purchased at an average price of C$10.82 per share, for a total transaction of C$1,623,000.00. Company insiders own 15.70% of the company's stock.

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.