Lundin Mining (OTCMKTS:LUNMF) Stock Crosses Below Fifty Day Moving Average – Here’s Why

Shares of Lundin Mining Corp. (OTCMKTS:LUNMF) passed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $25.58 and traded as low as $23.9391. Lundin Mining shares last traded at $24.52, with a volume of 122,251 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on LUNMF. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Lundin Mining in a report on Thursday, July 2nd. Royal Bank Of Canada reissued a “sector perform” rating on shares of Lundin Mining in a research note on Thursday, June 18th. Scotiabank restated an “outperform” rating on shares of Lundin Mining in a research report on Tuesday, July 7th. Citigroup restated a “positive” rating on shares of Lundin Mining in a research note on Wednesday, July 15th. Finally, Canaccord Genuity Group cut Lundin Mining from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Lundin Mining Stock Up 4.7%

The firm’s fifty day moving average is $25.58 and its two-hundred day moving average is $26.03. The firm has a market cap of $20.87 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 0.96 and a beta of 1.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.60 and a quick ratio of 1.05.

Lundin Mining (OTCMKTS:LUNMF) last released its earnings results on Wednesday, August 5th. The basic materials company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.04). Lundin Mining had a net margin of 31.82% and a return on equity of 13.18%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. On average, sell-side analysts expect that Lundin Mining Corp. will post 1.28 EPS for the current fiscal year.

About Lundin Mining

Lundin Mining Corporation is a Canadian base-metals mining company focused primarily on the exploration, development and operation of copper mines. The company also produces gold, molybdenum, nickel and other byproducts, depending on the ore bodies it operates. Its products are supplied to global markets and support industries such as construction, electrical equipment, transportation and manufacturing.

Lundin Mining’s principal assets include the Candelaria copper, gold and silver complex and the Caserones copper-molybdenum mine in Chile, as well as the Eagle nickel-copper mine in Michigan.