Lundin Mining (OTCMKTS:LUNMF) Shares Gap Down - What's Next?

Key Points

• Lundin Mining shares gapped down before Thursday’s trading, opening at $25.00 versus the prior close of $26.60, and were last trading around $26.25, down about 1.8%.
• Analyst sentiment remains mixed, with four Buy ratings and eight Hold ratings; the stock’s overall consensus from MarketBeat is “Hold.”
• The company recently beat earnings expectations, reporting EPS of $0.31 versus $0.29 expected, while revenue came in line at $1.16 billion.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $26.60, but opened at $25.00. Lundin Mining shares last traded at $26.25, with a volume of 5,057 shares changing hands.

Wall Street Analyst Weigh In

LUNMF has been the subject of a number of recent analyst reports. Scotiabank reiterated an "outperform" rating on shares of Lundin Mining in a research report on Tuesday, July 7th. Barclays upgraded shares of Lundin Mining to a "hold" rating in a report on Friday, May 22nd. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Lundin Mining in a report on Tuesday, April 21st. Dnb Carnegie raised Lundin Mining to a "hold" rating in a research report on Friday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Lundin Mining in a research note on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Lundin Mining has an average rating of "Hold".

Lundin Mining Trading Down 1.8%

The company's 50 day moving average price is $26.41 and its 200 day moving average price is $26.21. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.81 and a quick ratio of 1.29. The firm has a market cap of $22.31 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.05 and a beta of 1.25.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) last announced its earnings results 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. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. Lundin Mining had a net margin of 32.67% and a return on equity of 11.69%. As a group, analysts forecast that Lundin Mining Corp. will post 1.33 EPS for the current fiscal 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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