Lundin Mining (OTCMKTS:LUNMF) Shares Gap Down – Here’s What Happened

Lundin Mining Corp. (OTCMKTS:LUNMF) gapped down prior to trading on Thursday. The stock had previously closed at $25.56, but opened at $24.31. Lundin Mining shares last traded at $24.34, with a volume of 3,816 shares changing hands.

Analysts Set New Price Targets

LUNMF has been the subject of several analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Lundin Mining in a research report on Tuesday, July 7th. Dnb Carnegie upgraded Lundin Mining to a “hold” rating in a research report on Friday, July 3rd. Citigroup reissued a “positive” rating on shares of Lundin Mining in a research note on Wednesday, July 15th. Royal Bank Of Canada restated a “sector perform” rating on shares of Lundin Mining in a research report on Thursday, June 18th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Lundin Mining in a research note on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold”.

Lundin Mining Price Performance

The firm has a market cap of $21.09 billion, a P/E ratio of 14.32, a P/E/G ratio of 0.96 and a beta of 1.29. 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’s 50 day moving average is $25.72 and its two-hundred day moving average is $26.11.

Lundin Mining (OTCMKTS:LUNMF) last issued its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.30 EPS 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 firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. As a group, analysts anticipate that Lundin Mining Corp. will post 1.28 earnings per share for the current year.

About Lundin Mining

Lundin Mining Corporation is a Canadian base-metals mining company headquartered in Vancouver, British Columbia. The company explores for, develops and operates mines producing copper, zinc, nickel, gold, silver and other byproducts.

Lundin Mining’s operating portfolio includes the Candelaria copper-mining complex and Caserones copper-molybdenum mine in Chile; the Eagle nickel-copper mine in Michigan, United States; the Neves-Corvo copper-zinc mine in Portugal; and the Zinkgruvan zinc-lead-silver mine in Sweden.