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

Lundin Mining Corp. (OTCMKTS:LUNMF) shares gapped down prior to trading on Thursday . The stock had previously closed at $29.73, but opened at $28.09. Lundin Mining shares last traded at $29.6634, with a volume of 3,509 shares traded.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LUNMF shares. Citigroup reaffirmed a “buy” rating on shares of Lundin Mining in a report on Wednesday, February 11th. Raymond James Financial reaffirmed a “market perform” rating on shares of Lundin Mining in a report on Wednesday, January 14th. Cormark upgraded Lundin Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, December 22nd. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Lundin Mining in a research report on Wednesday, February 4th. Finally, Scotiabank reiterated an “outperform” rating on shares of Lundin Mining in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Lundin Mining currently has an average rating of “Moderate Buy”.

Lundin Mining Trading Down 1.3%

The company has a current ratio of 1.64, a quick ratio of 1.17 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $26.29 and a 200 day moving average of $21.86. The company has a market cap of $25.08 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 1.53 and a beta of 1.30.

Lundin Mining (OTCMKTS:LUNMF) last announced its earnings results on Thursday, February 19th. The basic materials company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.30 by $0.12. Lundin Mining had a return on equity of 10.02% and a net margin of 30.48%.The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.18 billion. On average, analysts predict that Lundin Mining Corp. will post 0.53 earnings per share for the current fiscal 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.