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

Lundin Mining Corp. (OTCMKTS:LUNMF)’s share price gapped up before the market opened on Monday . The stock had previously closed at $26.53, but opened at $29.99. Lundin Mining shares last traded at $27.55, with a volume of 7,021 shares traded.

Analysts Set New Price Targets

Several analysts recently weighed in on LUNMF shares. Scotiabank reaffirmed an “outperform” rating on shares of Lundin Mining in a report on Tuesday, February 24th. Barclays raised shares of Lundin Mining to a “hold” rating in a research report on Friday, May 22nd. Citigroup restated a “buy” rating on shares of Lundin Mining in a report on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Lundin Mining in a research note on Friday, May 15th. Finally, TD Securities reissued a “buy” rating on shares of Lundin Mining in a report on Monday, February 23rd. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Lundin Mining presently has a consensus rating of “Hold”.

Lundin Mining Stock Performance

The firm has a 50 day moving average of $27.49 and a two-hundred day moving average of $24.91. 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 stock has a market cap of $23.39 billion, a PE ratio of 16.27, a PEG ratio of 1.28 and a beta of 1.20.

Lundin Mining (OTCMKTS:LUNMF) last announced its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. Lundin Mining had a net margin of 32.67% and a return on equity of 11.69%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Research analysts predict that Lundin Mining Corp. will post 1.18 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.