Lundin Mining (LUNMF) Receives a Buy from Desjardins

In a report released today, Bryce Adams from Desjardins maintained a Buy rating on Lundin Mining, with a price target of C$23.00. The company’s shares opened today at $14.77.

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According to TipRanks, Adams is a 5-star analyst with an average return of 22.4% and a 67.11% success rate. Adams covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, NGEx Minerals, and Magna Mining.

In addition to Desjardins, Lundin Mining also received a Buy from Jefferies’s Chris LaFemina in a report issued on September 24. However, on September 19, UBS maintained a Hold rating on Lundin Mining (Other OTC: LUNMF).

Based on Lundin Mining’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $937.2 million and a net profit of $228.5 million. In comparison, last year the company earned a revenue of $878.3 million and had a net profit of $121.6 million

Based on the recent corporate insider activity of 16 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.