Lundin Mining (TSE:LUN) Hits New 12-Month Low on Analyst Downgrade

Shares of Lundin Mining Co. (TSE:LUN - Get Free Report) reached a new 52-week low on Wednesday after Morgan Stanley lowered their price target on the stock from C$14.80 to C$12.00. The stock traded as low as C$9.07 and last traded at C$9.17, with a volume of 4334538 shares traded. The stock had previously closed at C$9.69.

A number of other research firms have also commented on LUN. Desjardins upgraded Lundin Mining to a "moderate buy" rating in a research note on Thursday, April 3rd. Jefferies Financial Group decreased their price target on Lundin Mining from C$20.00 to C$16.00 in a research report on Monday, January 6th. Scotiabank downgraded shares of Lundin Mining from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 15th. UBS Group decreased their target price on shares of Lundin Mining from C$17.00 to C$15.50 in a report on Tuesday, January 7th. Finally, Raymond James cut their price target on shares of 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. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$16.46.

Insider Activity

In other news, insider Nemesia S.a.r.l. bought 2,000,000 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were 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 bought 150,000 shares of the business'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. Insiders own 15.70% of the company's stock.

Lundin Mining Trading Up 4.4 %

The company has a market cap of C$6.53 billion, a price-to-earnings ratio of 21.19, a P/E/G ratio of -0.26 and a beta of 1.66. The firm's 50-day moving average price is C$11.84 and its 200 day moving average price is C$12.80. The company has a current ratio of 1.40, a quick ratio of 0.90 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.