Lundin Mining (OTCMKTS:LUNMF) Shares Gap Up – Should You Buy?

Lundin Mining Corp. (OTCMKTS:LUNMF)’s stock price gapped up prior to trading on Monday. The stock had previously closed at $23.60, but opened at $24.99. Lundin Mining shares last traded at $24.5724, with a volume of 1,412 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Dnb Carnegie raised Lundin Mining to a “hold” rating in a research note on Friday, July 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Lundin Mining in a research report on Thursday, July 2nd. Citigroup reissued a “positive” rating on shares of Lundin Mining in a research note on Wednesday, July 15th. Canaccord Genuity Group lowered shares of Lundin Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Lundin Mining in a research note on Thursday, June 18th. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold”.

Lundin Mining Price Performance

The stock has a market capitalization of $20.76 billion, a PE ratio of 14.10, a PEG ratio of 1.30 and a beta of 1.27. The company has a current ratio of 1.60, a quick ratio of 1.05 and a debt-to-equity ratio of 0.02. The company’s 50 day simple moving average is $25.45 and its 200 day simple moving average is $26.09.

Lundin Mining (OTCMKTS:LUNMF) last issued its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). Lundin Mining had a return on equity of 13.18% and a net margin of 31.82%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. On average, equities analysts anticipate that Lundin Mining Corp. will post 1.28 earnings per share for the current year.

About Lundin Mining

Lundin Mining Corporation is a Canadian base-metals mining company focused primarily on the exploration, development and operation of copper mines. The company also produces gold, molybdenum, nickel and other byproducts, depending on the ore bodies it operates. Its products are supplied to global markets and support industries such as construction, electrical equipment, transportation and manufacturing.

Lundin Mining’s principal assets include the Candelaria copper, gold and silver complex and the Caserones copper-molybdenum mine in Chile, as well as the Eagle nickel-copper mine in Michigan.