Lundin Mining (OTCMKTS:LUNMF) Shares Gap Up - Still a Buy?

Key Points

• Lundin Mining shares gapped up from $14.89 to $15.50 before settling at $15.28 with a trading volume of 201,514 shares.
• Following recent analyst reviews, the stock now has an average rating of "Buy", with four analysts giving a Strong Buy and two a Buy rating.
• The company announced a dividend increase to $0.02 per share, yielding 69.0%, despite a concerning dividend payout ratio of -400.00%.

Shares of Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $14.89, but opened at $15.50. Lundin Mining shares last traded at $15.28, with a volume of 201,514 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on LUNMF shares. Haywood Securities lowered shares of Lundin Mining from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 12th. Raymond James Financial raised shares of Lundin Mining to a "hold" rating in a research note on Monday, June 30th. Dnb Nor Markets raised shares of Lundin Mining to a "hold" rating in a research note on Tuesday, June 17th. Finally, TD Securities reissued a "buy" rating on shares of Lundin Mining in a research note on Wednesday, September 10th. Four equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy".

Lundin Mining Stock Up 2.8%

The business's 50 day moving average is $12.05 and its 200-day moving average is $10.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 1.45. The firm has a market capitalization of $13.10 billion, a price-to-earnings ratio of -765.00, a price-to-earnings-growth ratio of 0.70 and a beta of 1.37.

Lundin Mining Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, September 24th. Investors of record on Monday, September 8th were paid a $0.02 dividend. This represents a yield of 69.0%. The ex-dividend date was Friday, September 5th. This is a boost from Lundin Mining's previous dividend of $0.02. Lundin Mining's dividend payout ratio (DPR) is -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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