Lundin Mining (LUN) Reaches New 1-Year Low at $8.41

Lundin Mining (TSE:LUN) hit a new 52-week low during trading on Tuesday . The company traded as low as C$8.41 and last traded at C$8.50, with a volume of 700941 shares. The stock had previously closed at C$8.71.

LUN has been the subject of a number of recent research reports. Handelsbanken downgraded shares of Lundin Mining from an “accumulate” rating to a “reduce” rating in a report on Monday, January 22nd. CIBC downgraded shares of Lundin Mining from an “outperform” rating to a “neutral” rating in a report on Monday, January 22nd. Berenberg Bank lifted their price target on shares of Lundin Mining from C$9.25 to C$9.35 in a report on Thursday, April 26th. National Bank Financial raised their target price on shares of Lundin Mining from C$11.00 to C$11.50 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Finally, Scotiabank reissued an “outperform” rating and issued a C$9.50 target price on shares of Lundin Mining in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of C$9.48.

Lundin Mining (TSE:LUN) last released its earnings results on Wednesday, April 25th. The mining company reported C$0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.12 by C$0.02. Lundin Mining had a net margin of 28.87% and a return on equity of 14.83%. The business had revenue of C$594.75 million for the quarter, compared to analysts’ expectations of C$618.75 million.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 19th. Investors of record on Friday, June 1st will be given a $0.03 dividend. The ex-dividend date is Thursday, May 31st. This represents a $0.12 annualized dividend and a dividend yield of 1.41%.

In other Lundin Mining news, insider Neil Patrick Matthew O’brien sold 55,000 shares of Lundin Mining stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of C$8.42, for a total transaction of C$463,100.00. Also, insider Stephen Trelawney Gatley sold 120,000 shares of Lundin Mining stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$8.47, for a total transaction of C$1,016,400.00.

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, the United States, Portugal, and Sweden. It primarily produces copper, zinc, and nickel, as well as gold, lead, silver, and other metals. The company holds 100% interest in the Eagle mine located in the United States; the Neves-Corvo mine located in Portugal; and the Zinkgruvan mine located in Sweden, as well as 80% interest in Candelaria and Ojos del Salado mining complex; and 24% interest the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland.

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