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

Lundin Mining Corp. (OTCMKTS:LUNMF)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $22.7350, but opened at $24.32. Lundin Mining shares last traded at $23.73, with a volume of 9,188 shares traded.

Analysts Set New Price Targets

LUNMF has been the topic of several research analyst reports. Barclays upgraded Lundin Mining to a “hold” rating in a research note on Friday, May 22nd. Royal Bank Of Canada reissued a “sector perform” rating on shares of Lundin Mining in a report on Thursday, June 18th. Scotiabank reissued an “outperform” rating on shares of Lundin Mining in a report on Tuesday. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Lundin Mining in a research note on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Lundin Mining in a research report on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Lundin Mining Price Performance

The company’s 50-day moving average is $26.87 and its two-hundred day moving average is $25.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.81 and a quick ratio of 1.29. The firm has a market cap of $20.48 billion, a P/E ratio of 14.25, a PEG ratio of 1.05 and a beta of 1.25.

Lundin Mining (OTCMKTS:LUNMF) last posted its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Lundin Mining had a net margin of 32.67% and a return on equity of 11.69%. Sell-side analysts anticipate that Lundin Mining Corp. will post 1.27 EPS for the current fiscal year.

About Lundin Mining

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.