Lundin Mining (OTCMKTS:LUNMF) Hits New 1-Year High After Dividend Announcement

Key Points

• Lundin Mining Corp. reached a new 52-week high of $12.00 following the announcement of a dividend, trading last at $11.94 with significant volume.
• The company declared a dividend of $0.02 per share to be paid on September 24th, with a yield of 69.0%, marking a positive change from the previous dividend.
• Several research firms upgraded Lundin Mining's rating, with BMO Capital Markets moving it from "outperform" to a "strong-buy", reflecting a generally positive outlook from analysts.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report) hit a new 52-week high during trading on Wednesday after the company announced a dividend. The company traded as high as $12.00 and last traded at $11.94, with a volume of 42640 shares. The stock had previously closed at $11.53.The newly announced dividend which will be paid on Wednesday, September 24th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.02 per share. This is a positive change from Lundin Mining's previous dividend of $0.02. The ex-dividend date is Friday, September 5th. This represents a dividend yield of 69.0%. Lundin Mining's dividend payout ratio (DPR) is currently -350.00%.

Analyst Ratings Changes

A number of research firms have weighed in on LUNMF. BMO Capital Markets upgraded Lundin Mining from an "outperform" rating to a "strong-buy" rating in a report on Friday, June 6th. Raymond James Financial upgraded Lundin Mining to a "hold" rating in a report on Monday, June 30th. Finally, Dnb Nor Markets upgraded Lundin Mining to a "hold" rating in a research note on Tuesday, June 17th. Five equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy".

Lundin Mining Price Performance

The firm has a market capitalization of $10.29 billion, a P/E ratio of -601.00, a PEG ratio of 0.76 and a beta of 1.35. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 1.45. The firm has a 50-day moving average of $10.71 and a 200-day moving average of $9.43.

Lundin Mining Company Profile

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.

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