Canaccord Genuity Thinks Lundin Mining’s Stock is Going to Recover
In a latest note to investors, a research analyst has provided a rating update for the Lundin Mining (TSX: LUN). Analyst Dalton Baretto from Canaccord Genuity rated Lundin Mining (TSX: LUN) a Buy on October 25, setting a C$8 price target.
According to TipRanks.com, Baretto is a 3-star analyst with an average return of 1.0% and a 42.9% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Fortuna Silver Mines, Hecla Mining Company, and Nevsun Resources Ltd.
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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lundin Mining with a C$8.33 average price target, a 63.0% upside from current levels. In a report issued on October 26, RBC Capital also upgraded the stock to Buy with a C$8 price target.
Lundin Mining’s market cap is currently C$3.75B and has a P/E ratio of 9.6. The company has a Price to Book ratio of 0.79.
Lundin Mining Corp. is a metal based company, which engages in the production of copper, zinc, and nickel. It focuses on operations and development projects in Chile, the United States of America, Portugal, and Sweden. Its projects include Candelaria, Eagle, Neves-Corvo, and Zinkgruvan.
The company’s shares closed on Monday at C$5.11, close to its 52-week low of C$4.70.