Lundin Mining (TSE:LUN) Trading 4.2% Higher - Here's Why

Lundin Mining Co. (TSE:LUN - Get Free Report) shot up 4.2% on Friday . The company traded as high as C$9.96 and last traded at C$9.91. 237,045 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 2,704,479 shares. The stock had previously closed at C$9.51.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LUN shares. Jefferies Financial Group lowered their price target 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 target price on shares of Lundin Mining and gave the stock a "buy" rating in a research report on Thursday, March 6th. Scotiabank cut shares of Lundin Mining from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 15th. TD Securities upgraded Lundin Mining from a "hold" rating to a "buy" rating and set a C$13.00 target price for the company in a research report on Tuesday. Finally, National Bankshares dropped their price target on Lundin Mining from C$17.50 to C$15.50 and set an "outperform" rating for the company in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$16.14.

Lundin Mining Trading Up 0.2 %

The company has a debt-to-equity ratio of 41.58, a quick ratio of 0.90 and a current ratio of 1.40. The stock has a market capitalization of C$6.56 billion, a PE ratio of 21.31, a P/E/G ratio of -0.26 and a beta of 1.66. The company has a 50 day moving average of C$11.79 and a two-hundred day moving average of C$12.76.

Insiders Place Their Bets

In related news, Director Adam Ian Lundin bought 150,000 shares of the stock in a transaction dated 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. Also, 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 bought at an average cost of C$11.35 per share, for a total transaction of C$22,700,000.00. Corporate insiders own 15.70% of the company's stock.

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.