Lundin Mining (TSE:LUN) Stock Rating Lowered by Scotiabank

Scotiabank downgraded shares of Lundin Mining (TSE:LUN) from a strong-buy rating to a hold rating in a report published on Wednesday morning,Zacks.com reports.

Several other research firms have also weighed in on LUN. Ventum Financial boosted their target price on shares of Lundin Mining from C$18.50 to C$19.00 in a report on Friday, October 18th. Jefferies Financial Group reduced their price target on shares of Lundin Mining from C$20.00 to C$16.00 in a research report on Monday, January 6th. Raymond James decreased their price objective on Lundin Mining from C$15.00 to C$14.00 and set a “market perform” rating on the stock in a report on Thursday. Finally, UBS Group cut their target price on Lundin Mining from C$17.00 to C$15.50 in a research note on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$17.31.

Lundin Mining Stock Performance

Shares of Lundin Mining stock opened at C$12.26 on Wednesday. The company has a debt-to-equity ratio of 24.64, a quick ratio of 0.90 and a current ratio of 1.49. The business’s 50 day moving average price is C$13.05 and its 200 day moving average price is C$13.58. The company has a market cap of C$9.52 billion, a price-to-earnings ratio of 43.79, a PEG ratio of -0.26 and a beta of 1.66. Lundin Mining has a one year low of C$9.85 and a one year high of C$17.97.

Lundin Mining (TSE:LUN) last posted its quarterly earnings results on Wednesday, November 6th. The mining company reported C$0.12 EPS for the quarter, missing the consensus estimate of C$0.24 by C($0.12). Lundin Mining had a return on equity of 5.04% and a net margin of 4.21%. The company had revenue of C$1.46 billion for the quarter, compared to analysts’ expectations of C$1.49 billion.

Lundin Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 29th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.36 annualized dividend and a dividend yield of 2.94%. Lundin Mining’s dividend payout ratio is presently 128.57%.

About Lundin Mining

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, Brazil, the United States, Portugal, Sweden, and Argentina. It primarily produces copper, zinc, gold, nickel, and molybdenum, as well as lead, silver, and other metals.