In a report issued on September 15, Sam Crittenden from RBC Capital maintained a Hold rating on Lundin Mining (LUNMF), with a price target of C$9.00. The company’s shares closed last Wednesday at $6.45, close to its 52-week high of $6.55.
According to TipRanks.com, Crittenden is a 3-star analyst with an average return of 3.2% and a 52.9% success rate. Crittenden covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, First Quantum Minerals, and Nexa Resources SA.
Lundin Mining has an analyst consensus of Moderate Buy, with a price target consensus of $6.96.
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Based on Lundin Mining’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $533 million and net profit of $38.73 million. In comparison, last year the company earned revenue of $369 million and had a GAAP net loss of $7.79 million.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LUNMF in relation to earlier this year.
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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.
