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

Lundin Mining Corp. (OTCMKTS:LUNMF) shares gapped up prior to trading on Thursday . The stock had previously closed at $22.7350, but opened at $24.32. Lundin Mining shares last traded at $23.73, with a volume of 9,188 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LUNMF. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Lundin Mining in a report on Thursday, June 18th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Lundin Mining in a research report on Tuesday, April 21st. Dnb Carnegie raised shares of Lundin Mining to a “hold” rating in a research report on Friday, July 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Lundin Mining in a research note on Thursday, July 2nd. Finally, Barclays raised Lundin Mining to a “hold” rating in a report on Friday, May 22nd. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Lundin Mining Price Performance

The company has a market capitalization of $21.09 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.04 and a beta of 1.25. 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 company’s 50 day simple moving average is $26.85 and its 200 day simple moving average is $26.00.

Lundin Mining (OTCMKTS:LUNMF) last issued its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.31 earnings per share for the quarter, topping 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 business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. As a group, sell-side analysts predict that Lundin Mining Corp. will post 1.27 earnings per share 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.