CIBC analyst Oscar Cabrera reiterated a Buy rating on Lundin Mining (LUNMF) yesterday and set a price target of C$8.00. The company’s shares closed last Monday at $5.17.
According to TipRanks.com, Cabrera ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -18.4% and a 29.0% success rate. Cabrera covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources Ltd, Trevali Mining Corporation, and First Quantum Minerals Ltd.
Lundin Mining has an analyst consensus of Strong Buy, with a price target consensus of $6.52, implying a 25.4% upside from current levels. In a report issued on October 15, Barclays also reiterated a Buy rating on the stock with a C$8.00 price target.
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Based on Lundin Mining’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $7.79 million. In comparison, last year the company had a net profit of $7.03 million.
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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.
