Lundin Mining (OTCMKTS:LUNMF) Stock Jumps 5.3% – Here’s What Happened

Lundin Mining Corp. (OTCMKTS:LUNMF)’s stock price was up 5.3% on Friday. The company traded as high as $24.4380 and last traded at $24.4380. 5,248 shares traded hands during trading, a decline of 97% from the average session volume of 185,747 shares. The stock had previously closed at $23.21.

Analysts Set New Price Targets

LUNMF has been the topic of a number of recent analyst reports. Canaccord Genuity Group cut Lundin Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Citigroup reaffirmed a “positive” rating on shares of Lundin Mining in a research note on Wednesday, July 15th. Dnb Carnegie raised shares of Lundin Mining to a “hold” rating in a research report on Friday, July 3rd. Scotiabank reiterated an “outperform” rating on shares of Lundin Mining in a research note on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Lundin Mining in a research note on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold”.

Lundin Mining Trading Up 1.3%

The firm’s 50-day simple moving average is $25.29 and its 200 day simple moving average is $26.10. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.60 and a quick ratio of 1.05. The firm has a market capitalization of $20.02 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 1.21 and a beta of 1.27.

Lundin Mining (OTCMKTS:LUNMF) last issued its earnings results on Wednesday, August 5th. The basic materials company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). Lundin Mining had a net margin of 31.82% and a return on equity of 13.18%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Equities analysts expect that Lundin Mining Corp. will post 1.29 earnings per share for the current year.

About Lundin Mining

Lundin Mining Corporation is a Canadian base-metals mining company focused primarily on the exploration, development and operation of copper mines. The company also produces gold, molybdenum, nickel and other byproducts, depending on the ore bodies it operates. Its products are supplied to global markets and support industries such as construction, electrical equipment, transportation and manufacturing.

Lundin Mining’s principal assets include the Candelaria copper, gold and silver complex and the Caserones copper-molybdenum mine in Chile, as well as the Eagle nickel-copper mine in Michigan.