Canaccord Genuity Group Downgrades Lundin Mining (OTCMKTS:LUNMF) to Hold

Lundin Mining (OTCMKTS:LUNMF) was downgraded by equities research analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. Royal Bank Of Canada restated a “sector perform” rating on shares of Lundin Mining in a research report on Thursday, June 18th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Lundin Mining in a report on Tuesday, April 21st. Barclays upgraded Lundin Mining to a “hold” rating in a research report on Friday, May 22nd. Dnb Carnegie raised Lundin Mining to a “hold” rating in a report on Friday, July 3rd. Finally, Scotiabank restated an “outperform” rating on shares of Lundin Mining in a research report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Lundin Mining Stock Performance

OTCMKTS LUNMF opened at $27.06 on Thursday. The stock has a 50-day simple moving average of $25.79 and a two-hundred day simple moving average of $26.38. The firm has a market capitalization of $23.10 billion, a P/E ratio of 15.64, a PEG ratio of 1.09 and a beta of 1.26. Lundin Mining has a fifty-two week low of $10.78 and a fifty-two week high of $33.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.29 and a current ratio of 1.81.

Lundin Mining (OTCMKTS:LUNMF) last posted its 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). Lundin Mining had a net margin of 31.82% and a return on equity of 13.41%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. On average, equities analysts forecast that Lundin Mining will post 1.34 earnings per share 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.