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

Lundin Mining Corp. (OTCMKTS:LUNMF) gapped down before the market opened on Tuesday . The stock had previously closed at $31.92, but opened at $26.61. Lundin Mining shares last traded at $28.3711, with a volume of 23,236 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LUNMF shares. Wall Street Zen lowered Lundin Mining from a “buy” rating to a “hold” rating in a research note on Monday, November 3rd. Cormark upgraded Lundin Mining from a “hold” rating to a “moderate buy” rating in a report on Monday, December 22nd. Raymond James Financial restated a “market perform” rating on shares of Lundin Mining in a report on Wednesday, January 14th. TD Securities reaffirmed a “buy” rating on shares of Lundin Mining in a research report on Monday, February 23rd. Finally, Citigroup restated a “buy” rating on shares of Lundin Mining in a research note on Wednesday, February 11th. Four research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Lundin Mining Price Performance

The stock’s fifty day moving average price is $25.21 and its 200-day moving average price is $18.86. The firm has a market cap of $24.85 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 13.69 and a beta of 1.15. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.05.

Lundin Mining (OTCMKTS:LUNMF) last released its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. Lundin Mining had a return on equity of 10.45% and a net margin of 30.48%.The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.18 billion. As a group, equities research analysts forecast that Lundin Mining Corp. will post 0.53 earnings per share 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.