$LMCU.TO

4 stories mentioning LMCU.TOUpdated 30d ago

Every FINWIRES story that references LMCU.TO, newest first.

Lumina Closes Overallotment Option in Connection with Initial Public Offering

Lumina Metals (LMCU.TO) raised an additional C$15 million after underwriters partially exercised their overallotment option under the company's initial public offering and secondary offering of common shares, Lumina said Friday.The company raised $406.2 million from the shares offering. The overallotment option covered 1.2 1.2 million shares from treasury at $12.50 per share.With the closing of the over-allotment option, there are 109,020,274 common shares issued and outstanding.Lumina is advancing the Nowa Sol, Sulmierzyce and Mozow projects in Poland.

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Research39d ago

Lumina Metals Initiated at Outperform at RBC, CIBC

RBC Capital Markets initiated coverage of Lumina Metals Corp. (LMCU.TO) with an Outperform rating and $20 price target, and CIBC Capital Markets started the Vancouver-based copper and silver miner at Outperformer with a $18 target."Lumina recently completed its IPO and is advancing the large-scale high-grade copper-silver Nowa Sol project in Poland with unique scale and grades, located in an established mining country," RBC Analyst Sam Crittenden said in a note to clients."The project is longer dated and there is uncertainty about taxes; however, we see significant upside potential to both metals prices and potential tax reform," Crittenden said."Poland is one of the world's leading copper producers, but high taxes have stalled investment which could change through tax changes and the development of Nowa Sol," the analyst said."The company currently trades at a 0.43x P/NAV, a slight discount to the developer peer average of 0.50x on the CIBC price deck," CIBC analyst Anita Soni said in a note to clients."We believe the discount relates to the stage of development for its cornerstone asset, Nowa Sol, which carries execution risk, and the current tax regime in Poland," Soni said.

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Mining & Metals40d ago

BMO Capital Markets Begins Coverage of Lumina Metals

BMO Capital Markets on Wednesday launched coverage of Lumina Metals (LMCU.TO) with an outperform, speculative. rating and C$17.00 price target.Lumina Metals, part of Lumina Group, is advancing the Nowa Sol, Sulmierzyce, and Mozow copper-silver projects in Poland.The projects represent some of the most significant copper-silver discoveries in Europe in recent decades, BMO said.The price target implies 0.6x of BMO's fully diluted net asset value estimate and a 42% return.Price: $12.00, Change: $+0.05, Percent Change: +0.42%

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Mining & Metals40d ago

National Bank of Canada Initiates Coverage of Lumina Metals

National Bank of Canada initiated coverage of Lumina Metals (LMCU.TO) with an outperform rating and C$20 price target, according to a Wednesday note.The bank derived the price target from a 0.70x net asset value (NAV) multiple on a fully financed project NAV plus corporate adjustments at par.The outperform rating is anchored by the large-scale nature of Lumina's flagship Nowa Sol copper-silver project in Poland, which is considered as one of the largest undeveloped copper-silver projects globally, the bank said."We view the large silver resource as adding significant value and optionality to Lumina as a potential funding opportunity through the sale of a stream to fund Nowa Sol construction," National Bank said."Given the large project scale and potential exploration upside combined with the Lumina Group's long record of M&A, we see Lumina Metals as well positioned to be an acquisition target as the company continues to derisk and advance its projects," the bank added.Lumina traded at $11.95 per share at last look Wednesday on the Toronto Stock Exchange.Price: $12.00, Change: $+0.05, Percent Change: +0.42%

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