Lundin Mining (TSE:LUN) Trading Up 6.8% – Should You Buy?

Lundin Mining Co. (TSE:LUN) rose 6.8% on Friday . The stock traded as high as C$10.16 and last traded at C$10.16. Approximately 1,371,616 shares were traded during trading, a decline of 49% from the average daily volume of 2,715,302 shares. The stock had previously closed at C$9.51.

Wall Street Analyst Weigh In

LUN has been the topic of several recent research reports. National Bankshares upped their price objective on Lundin Mining from C$17.00 to C$17.50 and gave the stock an “outperform” rating in a report on Wednesday, April 2nd. Stifel Nicolaus lowered their price objective on shares of Lundin Mining from C$17.50 to C$16.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Raymond James dropped their price objective on shares of Lundin Mining from C$15.00 to C$14.00 and set a “market perform” rating for the company in a research note on Thursday, January 16th. Morgan Stanley decreased their target price on shares of Lundin Mining from C$14.80 to C$12.00 in a research report on Wednesday. Finally, Jefferies Financial Group dropped their price target on Lundin Mining from C$20.00 to C$16.00 in a research report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$16.46.

Lundin Mining Stock Performance

The business has a 50-day moving average price of C$11.87 and a 200-day moving average price of C$12.82. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 41.58. The firm has a market capitalization of C$6.31 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of -0.26 and a beta of 1.66.

Insider Activity at Lundin Mining

In related news, insider Nemesia S.a.r.l. acquired 2,000,000 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average cost of C$11.35 per share, with a total value 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 stock was purchased at an average cost of C$10.82 per share, for a total transaction of C$1,623,000.00. 15.70% of the stock is currently owned by corporate 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.