Lundin Mining (OTCMKTS:LUNMF) Reaches New 52-Week High - Still a Buy?

Key Points

• Lundin Mining shares reached a new 52-week high of $14.98 during trading, closing at $13.74 with significant volume of approximately 470,000 shares.
• Wall Street analysts have mixed ratings on the stock, with four analysts giving it a Strong Buy, two a Buy, and four a Hold, resulting in an average rating of "Buy".
• The company recently increased its dividend to $0.02 per share, reflecting a dividend yield of 69.0%, despite a low dividend payout ratio of -400.00%.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The company traded as high as $14.98 and last traded at $13.74, with a volume of 469975 shares trading hands. The stock had previously closed at $12.72.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LUNMF. Haywood Securities downgraded Lundin Mining from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. TD Securities reiterated a "buy" rating on shares of Lundin Mining in a research report on Wednesday, September 10th. Raymond James Financial raised shares of Lundin Mining to a "hold" rating in a report on Monday, June 30th. BMO Capital Markets raised shares of Lundin Mining from an "outperform" rating to a "strong-buy" rating in a report on Friday, June 6th. Finally, Dnb Nor Markets raised Lundin Mining to a "hold" rating in a research note on Tuesday, June 17th. Four investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy".

Lundin Mining Trading Up 8.0%

The company has a market cap of $11.76 billion, a price-to-earnings ratio of -686.80, a P/E/G ratio of 0.81 and a beta of 1.35. The company's fifty day moving average is $11.23 and its two-hundred day moving average is $9.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 1.45.

Lundin Mining Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, September 24th. Stockholders of record on Monday, September 8th were paid a dividend of $0.02 per share. This represents a dividend yield of 69.0%. The ex-dividend date of this dividend was Friday, September 5th. This is a positive change from Lundin Mining's previous dividend of $0.02. Lundin Mining's dividend payout ratio 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.

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