Lundin Mining (TSE:LUN) Cut to Hold at Scotiabank

Scotiabank lowered shares of Lundin Mining (TSE:LUN) from a strong-buy rating to a hold rating in a report published on Wednesday,Zacks.com reports.

Several other analysts have also commented on LUN. Raymond James dropped their price target on shares of Lundin Mining from C$15.00 to C$14.00 and set a “market perform” rating on the stock in a research report on Thursday. Ventum Financial raised their target price on Lundin Mining from C$18.50 to C$19.00 in a research report on Friday, October 18th. UBS Group reduced their price target on Lundin Mining from C$17.00 to C$15.50 in a report on Tuesday, January 7th. Finally, Jefferies Financial Group dropped their price objective on Lundin Mining from C$20.00 to C$16.00 in a 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$17.31.

Lundin Mining Stock Performance

Shares of LUN stock opened at C$12.26 on Wednesday. Lundin Mining has a 52-week low of C$9.85 and a 52-week high of C$17.97. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 24.64. The stock has a market cap of C$9.52 billion, a PE ratio of 43.79, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66. The business has a 50-day simple moving average of C$13.05 and a 200-day simple moving average of C$13.58.

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

Lundin Mining Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, November 29th. Lundin Mining’s payout ratio is 128.57%.

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.