Lundin Mining (OTCMKTS:LUNMF) Issues Earnings Results

Lundin Mining (OTCMKTS:LUNMF) announced its earnings results on Wednesday. The basic materials company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02, Zacks reports. Lundin Mining had a net margin of 32.52% and a return on equity of 14.25%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.13 billion.

Lundin Mining Stock Up 5.1%

Shares of LUNMF traded up $1.01 during mid-day trading on Friday, hitting $21.00. 14,714 shares of the company traded hands, compared to its average volume of 198,049. The company has a market capitalization of $17.88 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 1.15 and a beta of 1.24. The company has a quick ratio of 1.05, a current ratio of 1.60 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average of $23.97 and a 200 day moving average of $25.81. Lundin Mining has a 1-year low of $16.63 and a 1-year high of $33.29.

Wall Street Analysts Forecast Growth

LUNMF has been the subject of several recent analyst reports. Citigroup reiterated a “positive” rating on shares of Lundin Mining in a research note on Wednesday, July 15th. Canaccord Genuity Group lowered shares of Lundin Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold”.

About Lundin Mining

Lundin Mining Corporation is a Canadian base-metals mining company headquartered in Vancouver, British Columbia. The company explores, develops, and operates mines that produce copper, zinc, gold, and silver, with copper representing its primary focus. Its products are sold to customers in industrial and metals markets.

Lundin Mining’s principal assets have included the Candelaria copper-gold-silver complex and Caserones copper-molybdenum mine in Chile, the Eagle nickel-copper mine in Michigan, and the Zinkgruvan zinc-lead-silver mine in Sweden.