Lundin Mining (OTCMKTS:LUNMF) Sets New 52-Week High - Here's Why

Key Points

• Lundin Mining shares achieved a new 52-week high at $15.00 during trading, reflecting strong investor interest and activity.
• Wall Street shows confidence in Lundin Mining, with multiple analysts issuing ratings, including four "Strong Buy" and several "Hold" ratings, resulting in a consensus rating of "Buy."
• The company recently announced a dividend increase to $0.02 per share, representing a substantial yield of 69.0%.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $15.00 and last traded at $15.00, with a volume of 9809 shares trading hands. The stock had previously closed at $14.94.

Wall Street Analysts Forecast Growth

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

Lundin Mining Stock Performance

The company has a market capitalization of $12.70 billion, a PE ratio of -742.00, a P/E/G ratio of 0.92 and a beta of 1.35. The stock has a 50-day simple moving average of $11.58 and a 200 day simple moving average of $10.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.45 and a quick ratio of 0.90.

Lundin Mining Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, September 24th. Investors of record on Monday, September 8th were paid a $0.02 dividend. The ex-dividend date was Friday, September 5th. This is an increase from Lundin Mining's previous dividend of $0.02. This represents a yield of 69.0%. Lundin Mining's payout ratio is currently -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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