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

Lundin Mining Corp. (OTCMKTS:LUNMF) gapped down before the market opened on Wednesday . The stock had previously closed at $26.63, but opened at $25.15. Lundin Mining shares last traded at $26.51, with a volume of 3,303 shares.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Lundin Mining in a report on Friday, May 15th. Scotiabank restated an “outperform” rating on shares of Lundin Mining in a report on Tuesday, February 24th. TD Securities restated a “buy” rating on shares of Lundin Mining in a report on Monday, February 23rd. National Bank Financial cut Lundin Mining from an “outperform” rating to a “hold” rating in a research report on Monday, February 16th. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Lundin Mining in a research report on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Lundin Mining Stock Down 2.7%

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.81 and a quick ratio of 1.29. The business has a 50 day moving average price of $27.66 and a 200 day moving average price of $25.03. The firm has a market capitalization of $22.16 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 1.32 and a beta of 1.20.

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

About Lundin Mining

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.