Raymond James Reaffirms Their Hold Rating on Lundin Mining (LUN)


A Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Analyst Farooq Hamed from Raymond James rated Lundin Mining (LUN) a Hold, setting a C$8.50 price target.

According to TipRanks.com, Hamed is ranked 0 out of 5 stars with an average return of -12.4% and a 36.8% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals Ltd, Detour Gold Corporation, and Hudbay Minerals Inc.

Lundin Mining has an analyst consensus of Moderate Buy, with a price target consensus of C$8.67, implying a 28.6% upside from current levels. In a report issued on March 28, BMO Capital also reiterated a Hold rating on the stock with a C$8 price target.

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The company has a one-year high of C$8.96 and a one-year low of C$4.70. Currently, Lundin Mining has an average volume of 2.54M.

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.

The company’s shares closed on Monday at C$6.74.

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