Top25-SA-Banner

Lundin Mining (LUN) Receives a Buy from Canaccord Genuity


Wall Street analyst has provided a review for the Materials company on October 10, but retained the same rating on the stock. Analyst Dalton Baretto remains bullish on Lundin Mining (TSX: LUN) and has a C$8.50 price target.

According to TipRanks.com, Baretto is a 4-star analyst with an average return of 5.3% and a 43.9% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Fortuna Silver Mines, and Hecla Mining Company.

Read also: Direxion Daily Jr Gld Mnrs (JNUG): Gold Stocks Recovering

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lundin Mining with a C$8.71 average price target, a 44.7% upside from current levels. In a report issued on October 10, Scotiabank also reiterated a Buy rating on the stock with a C$9.25 price target.

.

Lundin Mining’s market cap is currently C$4.36B and has a P/E ratio of 7.9. The company has a Price to Book ratio of 0.90.

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 Friday at C$6.02, close to its 52-week low of C$5.86.