Company News

BUZZ-Lundin bridge is falling down? Miner's outlook disappoints

** Canadian miner Lundin gives a disappointing operating outlook, sparking a host of broker rating cuts

** BMO cuts to ‘market perform’ from ‘outperform’, TD Securities and Canaccord Genuity to ‘hold’ from ‘buy’

** Canaccord and BMO say Lundin’s outlook is well below forecast, largely due to lowered production guidance for 2018 at its flagship Candelaria copper mine

** Lundin’s 2018 output outlook for Candelaria is 20 pct lower than prior year

** TD Securities expects investors will experience “sticker shock” with respect to both higher capex and opex for the next several years relative to previous expectations

** Up to Wednesday’s close, stock had risen 40 pct this year (Reporting by Anirban Paul)