Lundin Mining (TSE:LUN) Downgraded by Scotiabank to “Hold”

Lundin Mining (TSE:LUN) was downgraded by investment analysts at Scotiabank from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also issued reports on the stock. Raymond James reduced their target price on shares of Lundin Mining from C$15.00 to C$14.00 and set a “market perform” rating for the company in a research note on Thursday. UBS Group decreased their price objective on shares of Lundin Mining from C$17.00 to C$15.50 in a research note on Tuesday, January 7th. Ventum Financial upped their target price on Lundin Mining from C$18.50 to C$19.00 in a report on Friday, October 18th. Finally, Jefferies Financial Group decreased their price target on Lundin Mining from C$20.00 to C$16.00 in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Lundin Mining currently has a consensus rating of “Moderate Buy” and an average target price of C$17.31.

Lundin Mining Stock Performance

Shares of LUN opened at C$12.44 on Wednesday. The firm has a market capitalization of C$9.66 billion, a P/E ratio of 44.43, a P/E/G ratio of -0.26 and a beta of 1.66. Lundin Mining has a 52 week low of C$9.85 and a 52 week high of C$17.97. The stock has a 50 day moving average price of C$13.08 and a two-hundred day moving average price of C$13.60. The company has a debt-to-equity ratio of 24.64, a quick ratio of 0.90 and a current ratio of 1.49.

Lundin Mining (TSE:LUN) last announced its earnings results on Wednesday, November 6th. The mining company reported C$0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.24 by C($0.12). The company had revenue of C$1.46 billion for the quarter, compared to analysts’ expectations of C$1.49 billion. Lundin Mining had a net margin of 4.21% and a return on equity of 5.04%.

About Lundin Mining

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.