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LUMI - Lundin Mining News Story

SEK106.1 4.1  4.0%

Last Trade - 16/04/21

Basic Materials
Large Cap
Market Cap £6.78bn
Enterprise Value £7.19bn
Revenue £1.48bn
Position in Universe 113th / 1831

BUZZ-Lundin Mining: NBC downgrades on reduced near-term production outlook

Tue 1st December, 2020 11:48am
** Brokerage National Bank of Canada (NBC) downgrades the
Canadian miner  LUN.TO  to "sector perform" from "outperform"
citing lower copper, zinc and gold production outlook in the
near term  
    ** NBC says operating guidance is less than anticipated, and
it expects to see some reduced momentum in the shares
    ** LUN on Monday aftermarket forecast copper production to
increase over 25% in 2021*:nPrelg5la
    ** However, NBC says, based on the mid-point of previous
2021 and 2022 outlooks which were withdrawn earlier this year
due to COVID-19 disruptions, the new outlook sees consolidated
copper production down 6% and 4% in 2021 and 2022, respectively 
    ** Separately, Scotiabank calls it a "relatively
disappointing three-year guidance"; cuts PT to C$9.50 from C$10
    ** Eight Capital says 2021-2023 copper production outlook
broadly in-line; zinc weaker on extended ramp-up schedule of the
 Neves-Corvo Zinc Expansion Project (ZEP) in Portugal
    ** Canaccord Genuity cuts price target to C$10.50 from C$11
    ** 15 of 21 brokerages rate the stock "buy" or higher, and
six "hold"; their median PT is C$10.63
    ** Stock gained over 33% YTD, as of last close 

 (Reporting by Arundhati Sarkar in Bengaluru)
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