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

Lundin Mining Corp. (OTCMKTS:LUNMF) shares gapped up prior to trading on Friday . The stock had previously closed at $23.85, but opened at $25.14. Lundin Mining shares last traded at $23.00, with a volume of 8,507 shares.

Analyst Upgrades and Downgrades

LUNMF has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Lundin Mining in a research report on Thursday, July 2nd. Dnb Carnegie raised shares of Lundin Mining to a “hold” rating in a report on Friday, July 3rd. Scotiabank reiterated an “outperform” rating on shares of Lundin Mining in a research note on Tuesday, July 7th. Barclays raised shares of Lundin Mining to a “hold” rating in a report on Friday, May 22nd. Finally, Citigroup reaffirmed a “positive” rating on shares of Lundin Mining in a report on Wednesday. Four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold”.

Lundin Mining Stock Down 1.3%

The company has a quick ratio of 1.29, a current ratio of 1.81 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $26.73 and its 200 day moving average price is $26.11. The firm has a market cap of $20.11 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 1.02 and a beta of 1.25.

Lundin Mining (OTCMKTS:LUNMF) last posted its earnings results on Wednesday, May 6th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Lundin Mining had a net margin of 32.67% and a return on equity of 11.69%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. As a group, research analysts expect that Lundin Mining Corp. will post 1.32 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.