In a recent report, Canaccord has upgraded its rating for Lundin Mining (LUNMF, Financial) to ‘Buy’ from a previous ‘Hold’ position. The firm has also increased its price target for the company to C$14, up from C$13. This change reflects a positive outlook for the company's future performance, particularly influenced by the evolving nature of U.S. trade policies.
The analyst highlights that despite the complex and uncertain trade environment in the United States, there are substantial growth opportunities, especially for metals like copper. These prospects are expected to benefit companies in the mining sector, with Lundin Mining positioned to capitalize on these trends.
Moreover, Canaccord advises a cautious approach for 2025, suggesting that a defensive strategy might be advantageous given the current market conditions. This strategic stance aims to navigate potential risks while capturing growth arising from the metal market's potential upswing.
