Lundin Mining (OTCMKTS:LUNMF) Shares Gap Up – Here’s Why

Shares of Lundin Mining Corp. (OTCMKTS:LUNMF) gapped up before the market opened on Monday . The stock had previously closed at $26.53, but opened at $29.99. Lundin Mining shares last traded at $27.55, with a volume of 7,021 shares traded.

Analyst Upgrades and Downgrades

LUNMF has been the topic of several recent analyst reports. Barclays raised Lundin Mining to a “hold” rating in a research note on Friday, May 22nd. National Bank Financial lowered shares of Lundin Mining from an “outperform” rating to a “hold” rating in a report on Monday, February 16th. Citigroup reaffirmed a “buy” rating on shares of Lundin Mining in a research report on Wednesday, February 11th. TD Securities reaffirmed a “buy” rating on shares of Lundin Mining in a research note on Monday, February 23rd. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Lundin Mining in a research report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Lundin Mining Price Performance

The company’s 50-day moving average price is $27.49 and its 200-day moving average price is $24.91. The company has a quick ratio of 1.29, a current ratio of 1.81 and a debt-to-equity ratio of 0.04. The firm has a market cap of $23.39 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 1.28 and a beta of 1.20.

Lundin Mining (OTCMKTS:LUNMF) last announced its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Lundin Mining had a net margin of 32.67% and a return on equity of 11.69%. On average, equities research analysts forecast that Lundin Mining Corp. will post 1.18 EPS for the current 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.