Lundin Mining (TSE:LUN) Trading Up 6.8% – Should You Buy?

Lundin Mining Co. (TSE:LUN) rose 6.8% during mid-day trading on Friday . The stock traded as high as C$10.16 and last traded at C$10.16. 1,371,616 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 2,715,302 shares. The stock had previously closed at C$9.51.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. National Bankshares increased their price target on Lundin Mining from C$17.00 to C$17.50 and gave the stock an “outperform” rating in a report on Wednesday, April 2nd. Scotiabank lowered Lundin Mining from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Desjardins upgraded Lundin Mining to a “moderate buy” rating in a research report on Thursday, April 3rd. The Goldman Sachs Group set a C$16.60 price target on shares of Lundin Mining and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, Jefferies Financial Group decreased their price objective on shares of Lundin Mining from C$20.00 to C$16.00 in a report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$16.46.

Lundin Mining Trading Up 7.6 %

The company has a market cap 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’s 50 day simple moving average is C$11.84 and its two-hundred day simple moving average is C$12.80. The company has a debt-to-equity ratio of 41.58, a current ratio of 1.40 and a quick ratio of 0.90.

Insider Activity at Lundin Mining

In other news, Director Adam Ian Lundin bought 150,000 shares of Lundin Mining stock in a transaction that occurred on Thursday, April 3rd. The shares were purchased at an average price of C$10.82 per share, with a total value of C$1,623,000.00. Also, insider Nemesia S.a.r.l. acquired 2,000,000 shares of Lundin Mining stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average price 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 Company Profile

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.