Lundin Mining Corporation on Focus After Trading At 52-Week Highs

 Lundin Mining Corporation on Focus After Trading At 52 Week Highs

The stock of Lundin Mining Corporation (TSE:LUN) hit a new 52-week high and has $6.91 target or 4.00% above today’s $6.64 share price. The 7 months bullish chart indicates low risk for the $5.14B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $6.91 price target is reached, the company will be worth $205.60 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 270,185 shares traded hands. Lundin Mining Corporation (TSE:LUN) has risen 50.89% since April 19, 2016 and is uptrending. It has outperformed by 45.56% the S&P500.

Lundin Mining Corporation (TSE:LUN) Ratings Coverage

Out of 8 analysts covering Lundin Mining Corporation (TSE:LUN), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. $8.25 is the highest target while $2.90 is the lowest. The $6.33 average target is -4.67% below today’s ($6.64) stock price. Lundin Mining Corporation has been the topic of 53 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Friday, September 2 by RBC Capital Markets. The company was initiated on Friday, August 21 by BMO Capital Markets. Barclays Capital downgraded the stock to “Equal Weight” rating in Thursday, January 14 report. The rating was maintained by RBC Capital Markets with “Outperform” on Friday, July 22. The firm has “Outperform” rating by RBC Capital Markets given on Friday, January 22. Scotia Capital maintained Lundin Mining Corporation (TSE:LUN) rating on Wednesday, July 20. Scotia Capital has “Focus Stock” rating and $5.50 price target. The firm has “Outperform” rating by Raymond James given on Thursday, October 29. RBC Capital Markets maintained the shares of LUN in a report on Thursday, December 3 with “Outperform” rating. The stock of Lundin Mining Corporation (TSE:LUN) has “Market Perform” rating given on Friday, December 4 by Raymond James. The stock of Lundin Mining Corporation (TSE:LUN) earned “Focus Stock” rating by Scotia Capital on Monday, August 29.

More news for Lundin Mining Corporation (TSE:LUN) were recently published by: Reuters.com, which released: “Lundin Mining to sell stake in Tenke mine owner for $1.14 billion” on November 15, 2016. Moodys.com‘s article titled: “Moody’s Downgrades Lundin’s ratings to B1; outlook is stable” and published on February 29, 2016 is yet another important article.

Lundin Mining Corporation is a Canadian base metals mining firm with activities in Chile, Portugal, Sweden and the United States. The company has a market cap of $5.14 billion. The Firm holds equity stake in the Tenke Fungurume Mine in the Democratic Republic of Congo and in the Freeport Cobalt business, which includes a cobalt refinery located in Kokkola, Finland. It currently has negative earnings. The Company’s principal products and sources of sales are copper, nickel, zinc and lead concentrates.

LUN.TO Company Profile

Lundin Mining Corporation (Lundin Mining), incorporated on July 31, 2007, is a base metals mining firm with activities in Chile, Portugal, Sweden and the United States. In addition, the Company holds equity stake in the Tenke Fungurume Mine in the Democratic Republic of Congo (DRC) and in the Freeport Cobalt business, which includes a cobalt refinery located in Kokkola, Finland. Lundin Mining’s principal products and sources of sales are copper, nickel, zinc and lead concentrates. The Company’s operating properties include Candelaria, Eagle, Neves-Corvo, Zinkgruvan and Tenke Fungurume. The Company’s other property include Aguablanca Mine. The Company’s subsidiaries include Lundin Mining AB, Lundin Mining US Ltd., Tenke Holding Ltd. and LMC Bermuda Ltd.

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