Lundin Mining (OTCMKTS:LUNMF) Raised to Strong-Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Lundin Mining (OTCMKTS:LUNMF) from a hold rating to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

LUNMF has been the subject of several other reports. Stifel Canada raised Lundin Mining to a “strong-buy” rating in a report on Wednesday, March 19th. Desjardins upgraded Lundin Mining to a “moderate buy” rating in a report on Thursday, April 3rd. The Goldman Sachs Group upgraded Lundin Mining from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Finally, TD Securities upgraded shares of Lundin Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Lundin Mining Price Performance

LUNMF stock opened at $7.63 on Wednesday. The company has a market capitalization of $6.61 billion, a PE ratio of 21.20, a P/E/G ratio of 0.36 and a beta of 1.39. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.28. The stock’s 50 day moving average is $8.23 and its two-hundred day moving average is $8.98. Lundin Mining has a 52-week low of $6.30 and a 52-week high of $13.26.

Lundin Mining (OTCMKTS:LUNMF) last issued its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.10). The company had revenue of $858.90 million during the quarter, compared to the consensus estimate of $1.06 billion. Lundin Mining had a return on equity of 5.02% and a net margin of 6.63%. Analysts predict that Lundin Mining will post 0.53 earnings per share for the current fiscal year.

Lundin Mining Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 24th were given a dividend of $0.0634 per share. The ex-dividend date was Friday, March 21st. This represents a yield of 2.79%. Lundin Mining’s dividend payout ratio is currently -92.31%.

About Lundin Mining

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, Brazil, the United States, Portugal, Sweden, and Argentina. It primarily produces copper, zinc, gold, nickel, and molybdenum, as well as lead, silver, and other metals.