Lundin Mining (TSE:LUN) Downgraded by Eight Capital to “Neutral”

Eight Capital cut shares of Lundin Mining (TSE:LUN) from a buy rating to a neutral rating in a research note issued to investors on Monday morning, BayStreet.CA reports. They currently have C$16.00 target price on the mining company’s stock, up from their prior target price of C$13.00.

A number of other equities research analysts have also recently issued reports on the stock. National Bankshares dropped their price target on shares of Lundin Mining from C$13.00 to C$12.50 and set an outperform rating on the stock in a research note on Monday, January 15th. Stifel Nicolaus set a C$14.50 price target on shares of Lundin Mining and gave the company a buy rating in a research note on Tuesday, March 26th. BMO Capital Markets raised shares of Lundin Mining from a market perform rating to an outperform rating and lifted their price target for the company from C$12.00 to C$16.00 in a research note on Wednesday, March 27th. Pi Financial reaffirmed a buy rating on shares of Lundin Mining in a research note on Friday, March 1st. Finally, Raymond James increased their target price on shares of Lundin Mining from C$11.50 to C$13.00 and gave the company a market perform rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of C$14.93.

Lundin Mining Price Performance

TSE:LUN opened at C$15.60 on Monday. The company has a debt-to-equity ratio of 23.15, a current ratio of 1.48 and a quick ratio of 0.90. The firm has a market cap of C$12.09 billion, a price-to-earnings ratio of 37.14, a price-to-earnings-growth ratio of -0.26 and a beta of 1.85. The company has a 50 day moving average price of C$13.36 and a 200-day moving average price of C$11.14. Lundin Mining has a 1-year low of C$8.18 and a 1-year high of C$16.51.

Lundin Mining (TSE:LUN) last posted its earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share for the quarter, missing the consensus estimate of C$0.15 by C($0.01). Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. The firm had revenue of C$1.44 billion for the quarter, compared to analysts’ expectations of C$1.39 billion. Equities research analysts forecast that Lundin Mining will post 0.8396226 EPS for the current year.

Lundin Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 22nd were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, March 21st. Lundin Mining’s payout ratio is 85.71%.

Insider Buying and Selling at Lundin Mining

In other Lundin Mining news, Senior Officer Annie Laurenson sold 5,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$13.30, for a total transaction of C$69,160.00. 15.70% of the stock is currently owned by corporate insiders.

Lundin Mining Company Profile

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.