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

Key Points

• Lundin Mining shares opened lower, falling from a prior close of $25.59 to $24.90 before last trading at $25.69 on volume of 58,460 shares.
• Analyst sentiment remains cautious: four analysts rate the stock a Buy and nine rate it a Hold, resulting in an overall “Hold” consensus.
• The company reported quarterly EPS of $0.30, below the $0.34 consensus estimate, although revenue of $1.21 billion exceeded expectations of $1.19 billion.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $25.59, but opened at $24.90. Lundin Mining shares last traded at $25.69, with a volume of 58,460 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LUNMF shares. Dnb Carnegie raised Lundin Mining to a "hold" rating in a report on Friday, July 3rd. Citigroup reiterated a "positive" rating on shares of Lundin Mining in a research report on Wednesday, July 15th. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Lundin Mining in a research note on Tuesday, April 21st. Canaccord Genuity Group downgraded Lundin Mining from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th. Finally, Barclays upgraded Lundin Mining to a "hold" rating in a research note on Friday, May 22nd. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold".

Lundin Mining Price Performance

The firm has a market cap of $21.87 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.03 and a beta of 1.26. The firm's fifty day simple moving average is $25.35 and its 200 day simple moving average is $26.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.29 and a current ratio of 1.81.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) last issued its earnings results on Wednesday, August 5th. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.04). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Lundin Mining had a return on equity of 13.41% and a net margin of 31.82%. As a group, analysts forecast that Lundin Mining Corp. will post 1.33 earnings per share for the current 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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