Canaccord Genuity Group Downgrades Lundin Mining (OTCMKTS:LUNMF) to Hold

Lundin Mining (OTCMKTS:LUNMF) was downgraded by Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research firms also recently weighed in on LUNMF. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Lundin Mining in a research note on Tuesday, April 21st. Scotiabank reaffirmed an “outperform” rating on shares of Lundin Mining in a report on Tuesday, July 7th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Lundin Mining in a research report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Lundin Mining in a report on Thursday, July 2nd. Finally, Citigroup reissued a “positive” rating on shares of Lundin Mining in a research report on Wednesday, July 15th. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Lundin Mining Trading Up 1.1%

OTCMKTS:LUNMF opened at $27.06 on Thursday. The company has a market capitalization of $23.10 billion, a P/E ratio of 15.64, a PEG ratio of 1.09 and a beta of 1.26. The company has a current ratio of 1.81, a quick ratio of 1.29 and a debt-to-equity ratio of 0.04. Lundin Mining has a 12 month low of $10.78 and a 12 month high of $33.29. The firm has a fifty day simple moving average of $25.79 and a 200-day simple moving average of $26.38.

Lundin Mining (OTCMKTS:LUNMF) last released its earnings results on Wednesday, August 5th. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.04). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Lundin Mining had a net margin of 31.82% and a return on equity of 13.41%. On average, equities research analysts anticipate that Lundin Mining will post 1.34 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.