Lundin Mining (OTCMKTS:LUNMF) Shares Gap Down – Time to Sell?

Shares of Lundin Mining Corp. (OTCMKTS:LUNMF) gapped down before the market opened on Friday. The stock had previously closed at $22.50, but opened at $20.22. Lundin Mining shares last traded at $20.3295, with a volume of 1,543 shares trading hands.

Analyst Ratings Changes

Several brokerages recently commented on LUNMF. Citigroup reiterated a “positive” rating on shares of Lundin Mining in a report on Wednesday, July 15th. Canaccord Genuity Group lowered shares of Lundin Mining from a “strong-buy” rating to a “hold” rating in a research note 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Lundin Mining Price Performance

The firm has a market capitalization of $17.68 billion, a PE ratio of 11.47, a P/E/G ratio of 1.15 and a beta of 1.24. The firm’s fifty day moving average price is $23.97 and its 200 day moving average price is $25.81. The company has a current ratio of 1.60, a quick ratio of 1.05 and a debt-to-equity ratio of 0.02.

Lundin Mining (OTCMKTS:LUNMF) last posted its earnings results on Wednesday, November 4th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.13 billion. Lundin Mining had a net margin of 32.52% and a return on equity of 14.25%. As a group, equities analysts forecast that Lundin Mining Corp. will post 1.33 earnings per share for the current year.

Lundin Mining Company Profile

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.