The Fly reports that stock analysts at Morgan Stanley increased their price objective for Lundin Mining (OTCMKTS:LUNMF) from SEK 70 to SEK 74 in a research note sent to clients and investors on Thursday. The brokerage presently has the stock of the basic materials firm rated as “equal weight.”
Recently, LUNMF has also received comments from other brokerages. The target price set by Scotiabank for Lundin Mining was lowered from C$8.50 to C$8.00 on Thursday, October 27. Lundin Mining’s rating was changed by JPMorgan Chase & Co. from “overweight” to “neutral” in a research note that was released on Friday, November 11. In a research report published on Wednesday, August 24, Raymond James decreased their target price for Lundin Mining from C$12.00 to C$11.00. Credit Suisse Group lowered their target price for Lundin Mining from C$8.50 to C$7.75 in a research report released on September 8th. The target price for Lundin Mining was lowered by National Bank Financial from C$8.50 to C$8.25 in a research note released on Thursday, October 27th. Five equity research analysts have rated the stock as a hold, while three have assigned the company a buy rating. According to information from Bloomberg, Lundin Mining now has an average rating of “Hold” and an average target price of $29.31.
Shares of LUNMF rose in value by $0.04 during Thursday’s trading hours to reach $6.17. The company’s trading volume was 32,292 shares as opposed to its typical volume of 54,626 shares. The company has a $4.75 billion market value, a PE ratio of 8.81, and a beta of 1.53. Lundin Mining trades in a range between its yearly low of $4.54 and its yearly high of $11.25. The company’s fifty-day moving average price is $5.55, and its 200-day moving average price is $6.00.
On Tuesday, October 25, Lundin Mining (OTCMKTS:LUNMF) released its most recent quarterly earnings report. The $0.04 EPS for the quarter from the basic materials company fell $0.09 short of the $0.13 average estimate. The corporation’s sales for the quarter totaled $648.50 million. Lundin Mining performed wonderfully, with a net margin of 15.70% and a return on equity of 10.98%. Analysts anticipate $0.51 in earnings per share for Lundin Mining for the current fiscal year.
The diversified base metals mining company Lundin Mining Corporation conducts exploration, development, and natural resource exploitation in Brazil, Chile, Portugal, Sweden, and the United States. Its primary metals of production, in addition to lead, silver, and other metals, include copper, zinc, nickel, and gold. The corporation has wholly owned subsidiaries in Brazil’s Chapada mine, Portugal’s Neves-Corvo mine, America’s Eagle mine, and Sweden’s Zinkgruvan mine.