Lundin Mining (OTCMKTS:LUNMF) Stock Price Passes Below 50-Day Moving Average - What's Next?

Key Points

• Price slipped below its 50-day moving average: Lundin Mining's shares fell under the 50-day MA of $26.02, trading as low as $22.22 and last at $22.44 on volume of 113,817 shares.
• Analyst sentiment is a Moderate Buy, with 2 Strong Buy, 4 Buy and 7 Hold ratings; recent moves include Scotiabank restating outperform, Citigroup reissuing buy and National Bank Financial downgrading to hold.
• The company beat estimates last quarter with EPS of $0.42 versus $0.30 expected and revenue of $1.30B versus $1.18B, leaving a market cap of $19.17B and a PE of 14.96.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report)'s share price crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $26.02 and traded as low as $22.22. Lundin Mining shares last traded at $22.44, with a volume of 113,817 shares traded.

Analyst Ratings Changes

Several research firms recently weighed in on LUNMF. Scotiabank restated an "outperform" rating on shares of Lundin Mining in a report on Tuesday, February 24th. National Bank Financial downgraded Lundin Mining from an "outperform" rating to a "hold" rating in a report on Monday, February 16th. Citigroup reissued a "buy" rating on shares of Lundin Mining in a research report on Wednesday, February 11th. Raymond James Financial restated a "market perform" rating on shares of Lundin Mining in a research note on Wednesday, January 14th. Finally, Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Lundin Mining in a research note on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

Lundin Mining Price Performance

The company has a current ratio of 1.64, a quick ratio of 1.17 and a debt-to-equity ratio of 0.03. The stock has a market cap of $19.17 billion, a PE ratio of 14.96, a P/E/G ratio of 1.24 and a beta of 1.15. The company's 50 day moving average is $26.02 and its 200-day moving average is $20.74.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The basic materials company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.12. The company had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.18 billion. Lundin Mining had a net margin of 30.48% and a return on equity of 10.02%. As a group, sell-side analysts predict that Lundin Mining Corp. will post 0.53 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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