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

Key Points

• Lundin Mining Corp. shares experienced a gap down, opening at $13.97 after a previous close of $14.66, reflecting a drop in investor confidence.
• Analysts have mixed ratings on Lundin Mining, with TD Securities maintaining a "buy" rating while Haywood Securities downgraded it from "strong-buy" to "hold".
• The company recently increased its dividend to $0.02 per share, representing a significant dividend yield of 69.0%.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $14.66, but opened at $13.97. Lundin Mining shares last traded at $14.53, with a volume of 3,860 shares.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LUNMF shares. TD Securities reissued a "buy" rating on shares of Lundin Mining in a research report on Wednesday, September 10th. Haywood Securities cut Lundin Mining from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. Finally, Raymond James Financial raised Lundin Mining to a "hold" rating in a research report on Monday, June 30th. Four investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy".

Lundin Mining Stock Performance

The company has a current ratio of 1.45, a quick ratio of 0.90 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $12.62 billion, a P/E ratio of -736.50, a P/E/G ratio of 0.63 and a beta of 1.37. The company's fifty day simple moving average is $13.13 and its 200 day simple moving average is $10.78.

Lundin Mining Increases Dividend

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