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

Lundin Mining Corp. (OTCMKTS:LUNMF) shares gapped down prior to trading on Wednesday . The stock had previously closed at $28.19, but opened at $26.13. Lundin Mining shares last traded at $28.10, with a volume of 8,618 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have commented on LUNMF. National Bank Financial lowered shares of Lundin Mining from an “outperform” rating to a “hold” rating in a research report on Monday, February 16th. Barclays upgraded shares of Lundin Mining to a “hold” rating in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Lundin Mining in a research note on Friday, May 15th. Citigroup reaffirmed a “buy” rating on shares of Lundin Mining in a report on Wednesday, February 11th. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Lundin Mining in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Lundin Mining Stock Performance

The company has a current ratio of 1.81, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The company has a market cap of $25.69 billion, a PE ratio of 17.88, a P/E/G ratio of 1.39 and a beta of 1.18. The firm’s 50-day simple moving average is $26.65 and its two-hundred day simple moving average is $24.41.

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 analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Lundin Mining had a net margin of 32.67% and a return on equity of 11.69%. As a group, research analysts anticipate that Lundin Mining Corp. will post 1.18 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.