Lundin Mining (OTCMKTS:LUNMF) Sees Strong Trading Volume – Should You Buy?

Lundin Mining Corp. (OTCMKTS:LUNMF) saw unusually-strong trading volume on Thursday. 359,385 shares changed hands during mid-day trading, an increase of 95% from the previous session’s volume of 184,416 shares. The stock last traded at $21.44 and had previously closed at $22.7850.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LUNMF. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Lundin Mining in a research report on Thursday, July 2nd. Canaccord Genuity Group downgraded shares of Lundin Mining from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Scotiabank reiterated an “outperform” rating on shares of Lundin Mining in a research report on Tuesday, July 7th. Dnb Carnegie upgraded shares of Lundin Mining to a “hold” rating in a research note on Friday, July 3rd. Finally, Citigroup reissued a “positive” rating on shares of Lundin Mining in a research report on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Lundin Mining Stock Down 6.9%

The company has a current ratio of 1.60, a quick ratio of 1.05 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average price of $25.02 and a 200-day moving average price of $26.07. The firm has a market cap of $18.06 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.21 and a beta of 1.27.

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 the consensus estimate of $0.34 by ($0.04). The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Lundin Mining had a return on equity of 13.18% and a net margin of 31.82%. On average, equities analysts forecast that Lundin Mining Corp. will post 1.31 EPS for the current year.

About Lundin Mining

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.