Lundin Mining (OTCMKTS:LUNMF) Shares Gap Up – Here’s Why

Lundin Mining Corp. (OTCMKTS:LUNMF)’s share price gapped up before the market opened on Monday . The stock had previously closed at $28.91, but opened at $30.00. Lundin Mining shares last traded at $29.74, with a volume of 15,842 shares trading hands.

Analysts Set New Price Targets

LUNMF has been the topic of several research analyst reports. TD Securities reiterated a “buy” rating on shares of Lundin Mining in a research note on Monday. Cormark upgraded Lundin Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, December 22nd. National Bank Financial cut Lundin Mining from an “outperform” rating to a “hold” rating in a research report on Monday, February 16th. Wall Street Zen downgraded Lundin Mining from a “buy” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Lundin Mining in a research note on Wednesday, February 4th. Four equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Lundin Mining currently has a consensus rating of “Moderate Buy”.

Lundin Mining Trading Up 3.7%

The firm has a market cap of $25.61 billion, a P/E ratio of 19.98, a P/E/G ratio of 0.59 and a beta of 1.24. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.96 and a current ratio of 1.51. The firm has a 50 day simple moving average of $23.89 and a 200 day simple moving average of $18.01.

Lundin Mining (OTCMKTS:LUNMF) last issued its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.30 by $0.12. Lundin Mining had a net margin of 30.48% and a return on equity of 10.45%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.18 billion. On average, equities research analysts predict that Lundin Mining Corp. will post 0.53 EPS for the current fiscal year.

Lundin Mining Company Profile

Lundin Mining Corporation is a Canada-based diversified base metals mining company engaged in the acquisition, exploration, development, and operation of mines. The company’s portfolio encompasses copper, nickel, zinc, and lead, with by-products including gold and silver. Through its technical expertise and focus on cost-effective operations, Lundin Mining aims to maximize long-term value while meeting industry standards for safety and environmental stewardship.

Operationally, Lundin Mining holds interests in several producing assets across the Americas and Europe.