Lundin Mining (OTCMKTS:LUNMF) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Lundin Mining (OTCMKTS:LUNMF) announced its quarterly earnings results on Wednesday. The basic materials company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02, Zacks reports. Lundin Mining had a return on equity of 13.18% and a net margin of 31.82%.

Lundin Mining Price Performance

Shares of Lundin Mining stock traded up $1.26 during trading hours on Wednesday, reaching $22.56. The stock had a trading volume of 594,353 shares, compared to its average volume of 194,382. The stock’s 50 day moving average is $24.23 and its 200 day moving average is $25.84. The firm has a market capitalization of $19.21 billion, a PE ratio of 13.04, a PEG ratio of 1.10 and a beta of 1.24. Lundin Mining has a twelve month low of $15.05 and a twelve month high of $33.29. The company has a current ratio of 1.60, a quick ratio of 1.05 and a debt-to-equity ratio of 0.02.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LUNMF shares. Canaccord Genuity Group downgraded Lundin Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Citigroup reaffirmed a “positive” rating on shares of Lundin Mining in a research note on Wednesday, July 15th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Lundin Mining in a report on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

About Lundin Mining

Lundin Mining Corporation is a Canadian base-metals mining company headquartered in Vancouver, British Columbia. The company explores, develops, and operates mines that produce copper, zinc, gold, and silver, with copper representing its primary focus. Its products are sold to customers in industrial and metals markets.

Lundin Mining’s principal assets have included the Candelaria copper-gold-silver complex and Caserones copper-molybdenum mine in Chile, the Eagle nickel-copper mine in Michigan, and the Zinkgruvan zinc-lead-silver mine in Sweden.