Shares of Lundin Mining Co. (TSE:LUN) traded down 6.8% on Thursday . The company traded as low as C$5.75 and last traded at C$5.80. 220,917 shares traded hands during trading, a decline of 91% from the average session volume of 2,394,381 shares. The stock had previously closed at C$6.22.
A number of analysts have weighed in on the stock. CSFB reissued a “neutral” rating and set a C$10.00 target price on shares of Lundin Mining in a research report on Monday, September 10th. CIBC decreased their target price on shares of Lundin Mining from C$10.00 to C$9.00 in a research report on Friday, August 31st. Barclays reissued an “overweight” rating on shares of Lundin Mining in a research report on Wednesday, October 10th. Eight Capital decreased their target price on shares of Lundin Mining from C$11.50 to C$11.00 in a research report on Thursday, November 29th. Finally, National Bank Financial decreased their target price on shares of Lundin Mining from C$9.50 to C$8.75 and set an “outperform” rating for the company in a research report on Monday, November 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of C$9.00.
The company has a quick ratio of 3.82, a current ratio of 4.37 and a debt-to-equity ratio of 10.33.
Lundin Mining (TSE:LUN) last posted its earnings results on Wednesday, October 24th. The mining company reported C$0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.04 by C($0.03). The business had revenue of C$496.23 million during the quarter, compared to analyst estimates of C$561.99 million. Research analysts forecast that Lundin Mining Co. will post 0.310000022177296 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Friday, December 7th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Thursday, December 6th. Lundin Mining’s payout ratio is presently 22.66%.
In other Lundin Mining news, insider Jinhee Magie sold 20,334 shares of Lundin Mining stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of C$7.07, for a total transaction of C$143,761.38. Also, insider Jonas Peter Haddoc Richardson sold 8,320 shares of Lundin Mining stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of C$5.49, for a total value of C$45,676.80. Insiders have acquired a total of 335,000 shares of company stock valued at $183,850 in the last ninety days.
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Lundin Mining Company Profile (TSE:LUN)
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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