Lundin Mining (TSE:LUN) Trading Down 9.2% on Analyst Downgrade

Lundin Mining Co. (TSE:LUN) shares fell 9.2% on Thursday 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$9.34 and last traded at C$9.44. 2,475,907 shares were traded during mid-day trading, a decline of 9% from the average session volume of 2,726,637 shares. The stock had previously closed at C$10.40.

LUN has been the subject of a number of other reports. Stifel Nicolaus decreased their target price on 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. Scotiabank cut Lundin Mining from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Desjardins raised Lundin Mining to a “moderate buy” rating in a research report on Thursday, April 3rd. Raymond James cut their target price 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, January 16th. Finally, UBS Group decreased their price target on shares of Lundin Mining from C$17.00 to C$15.50 in a research note on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$16.46.

Insider Transactions at Lundin Mining

In other Lundin Mining news, Director Adam Ian Lundin purchased 150,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average cost of C$10.82 per share, for a total transaction of C$1,623,000.00. Also, insider Nemesia S.a.r.l. acquired 2,000,000 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was acquired at an average cost of C$11.35 per share, for a total transaction of C$22,700,000.00. Company insiders own 15.70% of the company’s stock.

Lundin Mining Trading Up 7.6 %

The stock has a market capitalization of C$6.25 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 41.58. The firm has a 50-day moving average price of C$11.84 and a 200-day moving average price of C$12.80.

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.