Lundin Mining (LUNMF) Receives a Buy from Jefferies

Jefferies analyst Chris LaFemina maintained a Buy rating on Lundin Mining today and set a price target of C$26.00. The company’s shares closed last Friday at $15.20.

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LaFemina covers the Basic Materials sector, focusing on stocks such as Rio Tinto, Glencore, and Teck Resources. According to TipRanks, LaFemina has an average return of 10.1% and a 53.25% success rate on recommended stocks.

Currently, the analyst consensus on Lundin Mining is a Moderate Buy with an average price target of $13.21, a -13.09% downside from current levels. In a report released on October 2, Desjardins also maintained a Buy rating on the stock with a C$23.00 price target.

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.