Lundin Mining (OTCMKTS:LUNMF) Shares Gap Up - Time to Buy?

Key Points

• Lundin Mining shares gapped higher, opening at $27.32 versus a prior close of $24.56, before last trading at $25.22 on relatively light volume.
• Analyst sentiment remains cautious: four analysts rate the stock a Buy and eight rate it a Hold, resulting in a consensus rating of “Hold.”
• The company reported quarterly EPS of $0.31, beating estimates by $0.02, while revenue matched forecasts at $1.16 billion; Lundin Mining also posted a 32.67% net margin and maintains low leverage with a 0.04 debt-to-equity ratio.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $24.56, but opened at $27.32. Lundin Mining shares last traded at $25.22, with a volume of 2,877 shares changing hands.

Analyst Upgrades and Downgrades

LUNMF has been the subject of several analyst reports. Barclays raised Lundin Mining to a "hold" rating in a research report on Friday, May 22nd. Dnb Carnegie raised Lundin Mining to a "hold" rating in a research report on Friday, July 3rd. Royal Bank Of Canada restated a "sector perform" rating on shares of Lundin Mining in a report on Thursday, June 18th. Citigroup reaffirmed a "positive" rating on shares of Lundin Mining in a research report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Lundin Mining in a research note on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, Lundin Mining currently has a consensus rating of "Hold".

Lundin Mining Stock Performance

The company has a current ratio of 1.81, a quick ratio of 1.29 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $21.14 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 1.00 and a beta of 1.25. The company has a 50-day moving average of $26.11 and a 200-day moving average of $26.31.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.31 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.16 billion. On average, equities research analysts forecast that Lundin Mining Corp. will post 1.34 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.