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

Lundin Mining Corp. (OTCMKTS:LUNMF) shares gapped up prior to trading on Monday. The stock had previously closed at $19.99, but opened at $21.73. Lundin Mining shares last traded at $22.00, with a volume of 11,459 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LUNMF shares. Citigroup restated a “positive” rating on shares of Lundin Mining in a research note on Wednesday, July 15th. Canaccord Genuity Group raised Lundin Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Lundin Mining Trading Down 3.7%

The firm has a fifty day moving average of $23.61 and a 200-day moving average of $25.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.05 and a current ratio of 1.60. The stock has a market capitalization of $18.43 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 1.14 and a beta of 1.24.

Lundin Mining (OTCMKTS:LUNMF) last issued its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. Lundin Mining had a return on equity of 14.25% and a net margin of 32.52%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.13 billion. As a group, equities analysts predict that Lundin Mining Corp. will post 1.33 earnings per share for the current fiscal year.

About Lundin Mining

Lundin Mining is a Canadian mining company headquartered in Vancouver, focused primarily on the exploration, development and production of copper. Its operations in South America include the Candelaria and Caserones mines in Chile and the Chapada mine in Brazil. The company’s principal product is copper, with gold, silver and molybdenum also produced as by-products at some of its operations. Lundin Mining is also involved in developing the Vicuña district, a copper, gold and silver project spanning Argentina and Chile, through a joint venture with BHP.