Lundin Mining (TSE:LUN) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Shares of Lundin Mining Co. (TSE:LUN) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$13.00 and traded as high as C$13.19. Lundin Mining shares last traded at C$13.16, with a volume of 2,035,645 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on LUN. Stifel Nicolaus dropped their target price on shares of Lundin Mining from C$17.50 to C$16.00 and set a “buy” rating for the company in a report on Thursday, January 30th. UBS Group reduced their target price on Lundin Mining from C$17.00 to C$15.50 in a report on Tuesday, January 7th. The Goldman Sachs Group set a C$16.60 price target on Lundin Mining and gave the stock a “buy” rating in a research note on Thursday, March 6th. Raymond James lowered their price objective on Lundin Mining from C$15.00 to C$14.00 and set a “market perform” rating for the company in a research report on Thursday, January 16th. Finally, Jefferies Financial Group dropped their price objective on shares of Lundin Mining from C$20.00 to C$16.00 in a research note on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$17.15.

Lundin Mining Stock Down 2.9 %

The company has a fifty day simple moving average of C$12.20 and a 200-day simple moving average of C$12.99. 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 cap of C$7.87 billion, a P/E ratio of 25.56, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66.

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.