Lundin Mining Corp. (TSE: LUN) is a highly diversified Canadian mining company specializing in the extraction of copper, zinc, gold, and nickel. The alternative energy market has become more popular with mainstream investors, sending some energy investments to new price highs. Lundin represents an affordable opportunity available through U.S. brokers. The Canadian stock market is highly regulated, making this pick attractive to investors in America.
Lundin primary metals are used throughout the alternative energy industry. Gold is an essential component of solar panels and semiconductors. Both zinc and nickel are used in battery cell technology. Copper is an essential component of electric wiring. The parallels to the energy industry are strong. Because the metals produced by Lundin are also used in other industries, including traditional energy generation and distribution, it’s a promising stock no matter the current market trends.
This pick is appealing for bargain investors for its price, growth potential, and dividend. The current yield of 2.13% is above the market average. The company has maintained its mining operations throughout the Coronavirus Pandemic, with two of its key mines improving cash costs by as much as 24%. The stock is currently outperforming its average target price of $7 and there could be more growth to come if market confidence continues to grow. Investors looking for a complementary stock for the clean energy market can consider this bargain pick in August.
- 1 Year Price Growth: 76%
- YTD Price Growth: -3.35%
- 3 Month Price Growth: 12%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.