Lundin Mining Corp. has a “long list of anticipated positive catalysts this year,” Desjardins Securities Inc. analyst Jackie Przybylowski, said. The analyst upgraded the stock to “buy” from “hold.”
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Ms. Przybylowski expects the company to further integrate the Candelaria Mining Complex in Chile into its portfolio this year after purchasing the mine in 2014. The analyst said she also expects positive catalysts at Lundin Mining’s other assets this year, with the company’s Eagle Mine on Michigan’s upper peninsula likely to achieve full production in May.
“Lundin has significant potential for positive investor sentiment as it achieves these milestones and produces a steady stream of positive newsflow through the year,” the analyst said.
Ms. Przybylowski raised her target price to $ 7.60 from $6.60. Consensus is $5.86, according to Thomson Reuters.
