Lundin Mining Corp. (OTCMKTS:LUNMF) Short Interest Down 24.9% in July

Key Points

• Lundin Mining Corp. experienced a significant decline in short interest, dropping 24.9% in July, with a total of 11,623,600 shares reported short sold.
• The company's recent stock performance shows shares trading at $10.82, with a one year low of $6.30 and a high of $12.00.
• Lundin Mining has maintained a consensus analyst rating of "Buy", with five analysts giving it a strong buy rating, while the company also recently announced a dividend yield of 84.0%.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 11,623,600 shares, adecreaseof24.9% from the July 15th total of 15,481,100 shares. Based on an average daily trading volume, of 287,300 shares, the short-interest ratio is presently 40.5 days. Approximately1.4% of the shares of the company are sold short. Approximately1.4% of the shares of the company are sold short. Based on an average daily trading volume, of 287,300 shares, the short-interest ratio is presently 40.5 days.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LUNMF. UBS Group cut shares of Lundin Mining from a "strong-buy" rating to a "hold" rating in a report on Friday, May 2nd. Scotiabank reaffirmed an "outperform" rating on shares of Lundin Mining in a report on Monday, May 5th. Dnb Nor Markets raised shares of Lundin Mining to a "hold" rating in a report on Tuesday, June 17th. Raymond James Financial raised shares of Lundin Mining to a "hold" rating in a report on Monday, June 30th. Finally, BMO Capital Markets raised shares of Lundin Mining from an "outperform" rating to a "strong-buy" rating in a report on Friday, June 6th. Five equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Lundin Mining currently has a consensus rating of "Buy".

Lundin Mining Price Performance

Lundin Mining stock traded up $0.03 during mid-day trading on Tuesday, reaching $11.45. The company had a trading volume of 186,526 shares, compared to its average volume of 200,812. Lundin Mining has a 1 year low of $6.30 and a 1 year high of $12.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.45 and a quick ratio of 0.90. The company has a market capitalization of $9.80 billion, a P/E ratio of -572.50, a P/E/G ratio of 0.75 and a beta of 1.35. The stock's 50-day simple moving average is $10.58 and its 200-day simple moving average is $9.33.

Lundin Mining Cuts Dividend

The business also recently announced a dividend, which was paid on Wednesday, June 25th. Shareholders of record on Friday, June 6th were issued a $0.0198 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a yield of 84.0%. Lundin Mining's dividend payout ratio (DPR) is -400.00%.

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.