Lundin Mining (OTCMKTS:LUNMF) Shares Gap Down – What’s Next?

Lundin Mining Corp. (OTCMKTS:LUNMF)’s share price gapped down before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LUNMF shares. Canaccord Genuity Group cut shares of Lundin Mining from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Barclays upgraded Lundin Mining to a “hold” rating in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Lundin Mining in a report on Thursday, July 2nd. Dnb Carnegie raised Lundin Mining to a “hold” rating in a research note on Friday, July 3rd. Finally, Scotiabank reiterated an “outperform” rating on shares of Lundin Mining in a research report on Tuesday, July 7th. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Lundin Mining Stock Down 3.9%

The stock has a market cap of $21.90 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.05 and a beta of 1.29. 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 firm’s 50-day simple moving average is $25.41 and its two-hundred day simple moving average is $26.53.

Lundin Mining (OTCMKTS:LUNMF) last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.04). Lundin Mining had a net margin of 31.82% and a return on equity of 13.41%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. On average, sell-side analysts expect that Lundin Mining Corp. will post 1.28 EPS for the current fiscal year.

Lundin Mining Company Profile

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.