Lundin Mining (OTCMKTS:LUNMF) Shares Gap Up – Time to Buy?

Lundin Mining Corp. (OTCMKTS:LUNMF)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $25.62, but opened at $27.59. Lundin Mining shares last traded at $27.49, with a volume of 827 shares.

Analyst Ratings Changes

LUNMF has been the subject of several analyst reports. Dnb Carnegie upgraded 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. Royal Bank Of Canada reissued a “sector perform” rating on shares of Lundin Mining in a research report on Thursday, June 18th. Canaccord Genuity Group lowered shares of Lundin Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Finally, Citigroup reaffirmed a “positive” rating on shares of Lundin Mining in a report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.

Lundin Mining Price Performance

The firm has a fifty day moving average of $25.72 and a 200 day moving average of $26.52. The company has a market capitalization of $21.22 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.06 and a beta of 1.29. The company has a current ratio of 1.60, a quick ratio of 1.05 and a debt-to-equity ratio of 0.02.

Lundin Mining (OTCMKTS:LUNMF) last posted its earnings results on Wednesday, August 5th. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.04). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. Lundin Mining had a net margin of 31.82% and a return on equity of 13.18%. On average, equities research analysts anticipate that Lundin Mining Corp. will post 1.27 EPS for the current year.

About Lundin Mining

Lundin Mining Corporation is a Canadian base-metals mining company headquartered in Vancouver, British Columbia. The company explores for, develops and operates mines producing copper, zinc, nickel, gold, silver and other byproducts.

Lundin Mining’s operating portfolio includes the Candelaria copper-mining complex and Caserones copper-molybdenum mine in Chile; the Eagle nickel-copper mine in Michigan, United States; the Neves-Corvo copper-zinc mine in Portugal; and the Zinkgruvan zinc-lead-silver mine in Sweden.