The Globe and Mail reports in its Thursday, April 18, edition that CIBC World Markets mining analyst Bryce Adams boosted his share target for Lundin Mining to $15 from $12. The Globe's David Leeder writes that Mr. Adams continues to rate Lundin Mining "neutral." Analysts on average target the shares at $14.80. Mr. Adams says in a note: "We expect most of our base metals coverage to report softer operational results, and in turn softer financial results for Q1/24. It is early in the year, but most companies will need stronger operational results in Q2/24 to be well positioned against full-year guidance ranges. Copper prices averaged $3.83/lb, close to our estimate of $3.85/lb, and provisional pricing impacts are modest." The Globe reported on May 30 that Mr. Adams had reaffirmed his "neutral" recommendation for Lundin Mining. The shares were then going for $10.16. The Globe reported on March 28 that BMO Capital analyst Jackie Przybylowski had upgraded her recommendation for Lundin Mining to "outperform" from "market perform." The shares were then worth $13.40. The Globe reported on April 10 that Scotia Capital analyst Orest Wowkodaw rated Lundin Mining "sector perform." The shares could then be had for $15.87.
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