Lundin Mining (LUN) Gets a Buy Rating from Scotiabank

Lundin Mining (LUN) Gets a Buy Rating from Scotiabank

The Materials sector company, Lundin Mining (LUN), has received a rating update from a Wall Street analyst yesterday. Analyst Orest Wowkodaw from Scotiabank reiterated a Buy rating, with a C$10 price target.

According to TipRanks.com, Wowkodaw is a 5-star analyst with an average return of 19.2% and a 59.7% success rate. Wowkodaw covers the Basic Materials sector, focusing on stocks such as Trevali Mining Corporation, First Quantum Minerals Ltd, and Teck Resources Limited.

Currently, the analyst consensus on Lundin Mining is a Moderate Buy with an average price target of C$8.51, representing a 13.0% upside. In a report issued on April 11, Goldman Sachs also upgraded the stock to Buy with a C$8.25 price target.

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Lundin Mining’s market cap is currently C$5.56B and has a P/E ratio of 20.9. The company has a Price to Book ratio of 1.10.

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.

The company’s shares closed on Tuesday at C$7.53.

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