RBC Capital analyst Sam Crittenden maintained a Hold rating on Lundin Mining (LUNMF – Research Report) on July 12 and set a price target of C$14.00. The company’s shares closed last Thursday at $5.43.
According to TipRanks.com, Crittenden is a 5-star analyst with an average return of 14.1% and a 48.1% success rate. Crittenden covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Nexa Resources SA, and Freeport-McMoRan.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lundin Mining with a $9.27 average price target, which is a 67.0% upside from current levels. In a report issued on July 13, Goldman Sachs also downgraded the stock to Hold with a SEK69.00 price target.
Based on Lundin Mining’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $991 million and net profit of $345 million. In comparison, last year the company earned revenue of $681 million and had a net profit of $135 million.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LUNMF in relation to earlier this year.
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Lundin Mining Corp. is a metal based company, which engages in mining, exploration and development of mineral properties, primarily in Chile, USA, Portugal and Sweden. It holds interest in the projects: Candelaria, Eagle, Neves-Corvo, and Zinkgruvan. The company was founded on September 9, 1994 and is headquartered in Toronto, Canada.
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