Lundin Mining (TSE:LUN) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Lundin Mining Co. (TSE:LUN)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LUN shares. Stifel Nicolaus decreased their price objective on Lundin Mining from C$17.50 to C$16.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Scotiabank cut Lundin Mining from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Jefferies Financial Group cut their price objective on shares of Lundin Mining from C$20.00 to C$16.00 in a research report on Monday, January 6th. The Goldman Sachs Group set a C$16.60 target price on shares of Lundin Mining and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, UBS Group cut their price target on shares of Lundin Mining from C$17.00 to C$15.50 in a report on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$17.15.

Lundin Mining Price Performance

The stock has a market capitalization of C$8.04 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66. The company has a debt-to-equity ratio of 41.58, a quick ratio of 0.90 and a current ratio of 1.40. The firm has a 50-day moving average price of C$12.19 and a 200 day moving average price of C$13.00.

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.