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

Lundin Mining Corp. (OTCMKTS:LUNMF)’s share price gapped down prior to trading on Monday . The stock had previously closed at $28.28, but opened at $26.90. Lundin Mining shares last traded at $27.58, with a volume of 2,062 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on LUNMF shares. Royal Bank Of Canada restated a “sector perform” rating on shares of Lundin Mining in a research report on Thursday, June 18th. Citigroup reaffirmed a “positive” rating on shares of Lundin Mining in a research note on Wednesday, July 15th. Scotiabank reiterated an “outperform” rating on shares of Lundin Mining in a report on Tuesday, July 7th. Canaccord Genuity Group lowered shares of Lundin Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Finally, Dnb Carnegie upgraded shares of Lundin Mining to a “hold” rating in a research report on Friday, July 3rd. Four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Lundin Mining Stock Down 4.3%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.29 and a current ratio of 1.81. The company has a market cap of $22.84 billion, a PE ratio of 15.47, a PEG ratio of 1.09 and a beta of 1.26. The firm has a fifty day simple moving average of $25.37 and a 200 day simple moving average of $26.52.

Lundin Mining (OTCMKTS:LUNMF) last announced its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.04). Lundin Mining had a return on equity of 13.41% and a net margin of 31.82%.The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Equities research analysts predict that Lundin Mining Corp. will post 1.28 EPS for the current 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.