Lundin Mining (OTCMKTS:LUNMF) Shares Gap Down - Here's What Happened

Key Points

• Lundin Mining shares opened significantly lower at $9.56 after closing at $10.10, indicating a considerable gap down in trading price.
• Several analysts have given Lundin Mining mixed ratings, with three analysts issuing a "hold" rating and five analysts rating it as a "strong-buy", leading to a consensus rating of "Buy".
• The company announced a dividend cut, with a recent payment yielding 84.0%, despite a negative dividend payout ratio of -61.54%.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $10.10, but opened at $9.56. Lundin Mining shares last traded at $9.96, with a volume of 16,126 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Raymond James Financial upgraded Lundin Mining to a "hold" rating in a research report on Monday, June 30th. Dnb Nor Markets upgraded Lundin Mining to a "hold" rating in a research report on Tuesday, June 17th. Scotiabank reiterated an "outperform" rating on shares of Lundin Mining in a research report on Monday, May 5th. UBS Group cut Lundin Mining from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 2nd. Finally, Canaccord Genuity Group raised Lundin Mining from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy".

Lundin Mining Trading Down 0.0%

The firm has a market cap of $8.65 billion, a price-to-earnings ratio of -77.69, a PEG ratio of 0.80 and a beta of 1.35. The company has a quick ratio of 1.53, a current ratio of 1.88 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $10.22 and a 200 day moving average price of $9.00.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.11. Lundin Mining had a positive return on equity of 6.24% and a negative net margin of 2.34%. The firm had revenue of $963.90 million during the quarter, compared to analysts' expectations of $914.31 million. As a group, research analysts anticipate that Lundin Mining Corp. will post 0.53 earnings per share for the current fiscal year.

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 dividend of $0.0198 per share. This represents a yield of 84.0%. The ex-dividend date was Thursday, June 5th. Lundin Mining's dividend payout ratio (DPR) is -61.54%.

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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