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

Lundin Mining Corp. (OTCMKTS:LUNMF) gapped down prior to trading on Tuesday . The stock had previously closed at $17.80, but opened at $17.00. Lundin Mining shares last traded at $17.72, with a volume of 11,750 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LUNMF shares. Haywood Securities cut shares of Lundin Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Wall Street Zen lowered shares of Lundin Mining from a “buy” rating to a “hold” rating in a report on Monday, November 3rd. Cormark downgraded Lundin Mining from a “moderate buy” rating to a “hold” rating in a research note on Thursday, November 13th. TD Securities restated a “buy” rating on shares of Lundin Mining in a research report on Wednesday, September 10th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Lundin Mining in a research note on Tuesday, October 28th. Four research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Lundin Mining currently has an average rating of “Moderate Buy”.

Lundin Mining Stock Performance

The company has a market cap of $15.42 billion, a price-to-earnings ratio of -900.00, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.45 and a quick ratio of 0.90. The stock has a 50-day moving average price of $15.57 and a 200 day moving average price of $12.26.

Lundin Mining Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, September 24th. Shareholders of record on Monday, September 8th were issued a dividend of $0.02 per share. This is an increase from Lundin Mining’s previous dividend of $0.02. The ex-dividend date was Friday, September 5th. This represents a yield of 69.0%. Lundin Mining’s dividend payout ratio is 175.00%.

About Lundin Mining

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, Brazil, the United States, Portugal, Sweden, and Argentina. It primarily produces copper, zinc, gold, nickel, and molybdenum, as well as lead, silver, and other metals.