In a new note to investors on October 25, an analyst has provided a rating update for Lundin Mining (TSX: LUN). The company received a Buy on October 25 from Scotiabank’s analyst Orest Wowkodaw, with a C$8.50 price target.
According to TipRanks.com, Wowkodaw is a 5-star analyst with an average return of 15.5% and a 50.0% success rate. Wowkodaw covers the Basic Materials sector, focusing on stocks such as Nevsun Resources Ltd, Taseko Mines Limited, and Capstone Mining Corp.
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Currently, the analyst consensus on Lundin Mining is a Moderate Buy with an average price target of C$8.42, which is a 64.8% 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.
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The company has a one-year high of C$10.22 and a one-year low of C$4.70. Currently, Lundin Mining has an average volume of 2.38M.
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.
