Lundin Mining (OTCMKTS:LUNMF) Shares Gap Down - Time to Sell?

Key Points

• Lundin Mining shares gapped down at the open, falling from a prior close of $24.66 to $23.44 before recovering slightly to last trade at $24.23.
• Analyst sentiment remains mixed but mostly cautious: the stock has four Buy ratings and eight Hold ratings, giving it an overall consensus rating of “Hold.”
• The company recently beat earnings expectations, reporting $0.31 EPS vs. $0.29 expected, while revenue came in line at $1.16 billion.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $24.66, but opened at $23.44. Lundin Mining shares last traded at $24.23, with a volume of 4,216 shares changing hands.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Lundin Mining in a research note on Tuesday, April 21st. Barclays raised shares of Lundin Mining to a "hold" rating in a report on Friday, May 22nd. Royal Bank Of Canada reissued a "sector perform" rating on shares of Lundin Mining in a research report on Thursday, June 18th. Dnb Carnegie upgraded shares of Lundin Mining to a "hold" rating in a research note on Friday, July 3rd. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Lundin Mining in a research report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Lundin Mining currently has an average rating of "Hold".

Lundin Mining Price Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.29 and a current ratio of 1.81. The company's fifty day moving average price is $26.85 and its 200 day moving average price is $26.03. The firm has a market capitalization of $20.71 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.02 and a beta of 1.25.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.02. Lundin Mining had a net margin of 32.67% and a return on equity of 11.69%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Equities research analysts expect that Lundin Mining Corp. will post 1.32 earnings per share for the current year.

Lundin Mining Company Profile

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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