Lundin Mining (OTCMKTS:LUNMF) Shares Gap Down – Here’s What Happened

Lundin Mining Corp. (OTCMKTS:LUNMF) shares gapped down before the market opened on Wednesday . The stock had previously closed at $28.19, but opened at $26.13. Lundin Mining shares last traded at $28.10, with a volume of 8,618 shares trading hands.

Analyst Ratings Changes

LUNMF has been the subject of several recent analyst reports. National Bank Financial downgraded shares of Lundin Mining from an “outperform” rating to a “hold” rating in a report on Monday, February 16th. Scotiabank reissued an “outperform” rating on shares of Lundin Mining in a report on Tuesday, February 24th. Citigroup reissued a “buy” rating on shares of Lundin Mining in a report on Wednesday, February 11th. Barclays raised shares of Lundin Mining to a “hold” rating in a research note on Friday, May 22nd. Finally, TD Securities restated a “buy” rating on shares of Lundin Mining in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Lundin Mining presently has a consensus rating of “Moderate Buy”.

Lundin Mining Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.64. The stock’s 50-day moving average is $26.47 and its 200 day moving average is $24.25. The stock has a market capitalization of $24.57 billion, a PE ratio of 17.10, a P/E/G ratio of 1.29 and a beta of 1.18.

Lundin Mining (OTCMKTS:LUNMF) last posted its earnings results on Wednesday, May 6th. The basic materials company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. Lundin Mining had a net margin of 32.67% and a return on equity of 12.06%. As a group, equities analysts expect that Lundin Mining Corp. will post 1.18 earnings per share for the current 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.