Lundin Mining (OTCMKTS:LUNMF) Shares Gap Down – Should You Sell?

Lundin Mining Corp. (OTCMKTS:LUNMF)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $26.9380, but opened at $25.30. Lundin Mining shares last traded at $25.09, with a volume of 7,332 shares traded.

Wall Street Analysts Forecast Growth

LUNMF has been the topic of a number of recent analyst reports. Citigroup reaffirmed a “positive” rating on shares of Lundin Mining in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Lundin Mining in a research note on Thursday, July 2nd. Canaccord Genuity Group lowered shares of Lundin Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Scotiabank reaffirmed an “outperform” rating on shares of Lundin Mining in a research report on Tuesday, July 7th. Finally, Barclays upgraded Lundin Mining to a “hold” rating in a report on Friday, May 22nd. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Lundin Mining Stock Down 6.5%

The company has a market cap of $21.45 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.07 and a beta of 1.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.05 and a current ratio of 1.60. The stock’s fifty day moving average is $25.70 and its two-hundred day moving average is $26.55.

Lundin Mining (OTCMKTS:LUNMF) last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). The company had revenue of $1.21 billion for 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 13.18%. Sell-side analysts predict that Lundin Mining Corp. will post 1.27 earnings per share for the current fiscal year.

Lundin Mining Company Profile

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.