Lundin Mining (OTCMKTS:LUNMF) Lowered to Hold Rating by Canaccord Genuity Group

Key Points

• Canaccord Genuity Group downgraded Lundin Mining from “strong buy” to “hold,” adding to a broader analyst consensus of “hold” with four buy ratings and nine hold ratings.
• Lundin Mining reported quarterly EPS of $0.30, below the $0.34 consensus estimate, though revenue of $1.21 billion exceeded expectations of $1.19 billion.
• Shares opened at $27.06, while the company had a $23.10 billion market capitalization and traded between $10.78 and $33.29 over the prior 12 months.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) was downgraded by equities researchers at Canaccord Genuity Group from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other analysts have also issued reports on the company. Scotiabank reissued an "outperform" rating on shares of Lundin Mining in a report on Tuesday, July 7th. Citigroup reaffirmed a "positive" rating on shares of Lundin Mining in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Lundin Mining in a research note on Thursday, July 2nd. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Lundin Mining in a report on Tuesday, April 21st. Finally, Dnb Carnegie upgraded Lundin Mining to a "hold" rating in a research report on Friday, July 3rd. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Lundin Mining has an average rating of "Hold".

Lundin Mining Stock Performance

Shares of LUNMF opened at $27.06 on Thursday. The company has a market cap of $23.10 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.09 and a beta of 1.26. The business's fifty day simple moving average is $25.79 and its two-hundred day simple moving average is $26.38. Lundin Mining has a 12 month low of $10.78 and a 12 month high of $33.29. The company has a current ratio of 1.81, a quick ratio of 1.29 and a debt-to-equity ratio of 0.04.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.04). The business had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.19 billion. Lundin Mining had a return on equity of 13.41% and a net margin of 31.82%. Research analysts anticipate that Lundin Mining will post 1.34 earnings per share for the current fiscal 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.

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