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

Key Points

• Lundin Mining shares gapped down at the open from $29.73 to $28.09, last trading around $29.66 on light volume (3,509 shares) and were down about 1.3% in the session.
• Analysts hold a consensus of Moderate Buy (1 Strong Buy, 4 Buy, 7 Hold), with recent notes including Cormark upgrading to "moderate buy" and Scotiabank reiterating "outperform".
• The company beat quarterly estimates with EPS $0.42 vs $0.30 and revenue $1.30B vs $1.18B, and shows solid fundamentals including low leverage (debt/equity 0.03), a market cap of ~$25.1B and a P/E around 19.6.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $29.73, but opened at $28.09. Lundin Mining shares last traded at $29.6634, with a volume of 3,509 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Lundin Mining in a report on Wednesday, February 4th. Cormark raised Lundin Mining from a "hold" rating to a "moderate buy" rating in a report on Monday, December 22nd. Scotiabank reissued an "outperform" rating on shares of Lundin Mining in a report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Lundin Mining in a report on Tuesday, February 24th. Finally, Raymond James Financial reissued a "market perform" rating on shares of Lundin Mining in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Lundin Mining currently has an average rating of "Moderate Buy".

Lundin Mining Trading Down 1.3%

The business has a fifty day simple moving average of $26.29 and a 200-day simple moving average of $21.86. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.64. The firm has a market cap of $25.08 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.53 and a beta of 1.30.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) last issued its earnings results on Thursday, February 19th. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. Lundin Mining had a return on equity of 10.02% and a net margin of 30.48%.The business had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.18 billion. As a group, equities analysts forecast that Lundin Mining Corp. will post 0.53 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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