Lundin Mining (OTCMKTS:LUNMF) Stock Price Passes Above Two Hundred Day Moving Average - What's Next?

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.83 and traded as high as $10.49. Lundin Mining shares last traded at $10.30, with a volume of 182,522 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Stifel Canada upgraded shares of Lundin Mining to a "strong-buy" rating in a report on Wednesday, March 19th. UBS Group lowered shares of Lundin Mining from a "strong-buy" rating to a "hold" rating in a report on Friday, May 2nd. Canaccord Genuity Group upgraded shares of Lundin Mining from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 16th. Raymond James Financial upgraded shares of Lundin Mining to a "hold" rating in a report on Monday, June 30th. Finally, Scotiabank restated an "outperform" rating on shares of Lundin Mining in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Lundin Mining has a consensus rating of "Buy".

Lundin Mining Price Performance

The firm has a market capitalization of $8.65 billion, a P/E ratio of -77.77, a P/E/G ratio of 0.84 and a beta of 1.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.88 and a quick ratio of 1.53. The stock's fifty day simple moving average is $9.80 and its 200 day simple moving average is $8.84.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share for the quarter, hitting analysts' consensus estimates of $0.11. The business had revenue of $963.90 million for the quarter, compared to analyst estimates of $914.31 million. Lundin Mining had a positive return on equity of 6.24% and a negative net margin of 2.34%. On average, equities research analysts predict that Lundin Mining Corp. will post 0.53 EPS for the current year.

Lundin Mining Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, June 25th. Stockholders of record on Friday, June 6th were paid a dividend of $0.0198 per share. This represents a dividend yield of 0.84%. The ex-dividend date of this dividend was Thursday, June 5th. Lundin Mining's payout ratio is -61.54%.

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.