The Globe and Mail reports in its Wednesday edition that National Bank Financial analyst Shane Nagle cut his share target for Lundin Mining to $11.25 from $11.50 ahead of the third quarter earnings season for base metals producers. The Globe's David Leeder writes in the Eye On Equities column that Mr. Nagle continues to rate Lundin Mining "sector perform." Analysts on average target the shares at $11.93. Mr. Nagle says in a note: "Despite pressure on the copper price from increasing interest rates and recession fears, equities have maintained a fair valuation, suggesting the market has been looking through near-term price/earnings volatility toward the potential of a more favourable copper price environment given the anticipated copper deficit in the coming years and further M&A activity. There is the risk operational underperformance and/or any material impact to any growth initiatives could lead to volatility in share prices." The Globe reported on Feb. 27 that Mr. Nagle had elevated his recommendation for Lundin Mining to "sector perform" from "underperform." It was then worth $8.29. The Globe reported on Sept. 29 that Jefferies analyst Christopher LaFemina rated Lundin Mining "buy." It was then worth $10.13.