Lundin Mining (OTCMKTS:LUNMF) Stock Price Up 6.6% - Here's Why

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report)'s share price was up 6.6% during mid-day trading on Thursday . The stock traded as high as $10.77 and last traded at $10.77. Approximately 17,846 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 323,820 shares. The stock had previously closed at $10.10.

Analysts Set New Price Targets

A number of brokerages have issued reports on LUNMF. Stifel Canada raised shares of Lundin Mining to a "strong-buy" rating in a report on Wednesday, March 19th. The Goldman Sachs Group raised Lundin Mining from a "buy" rating to a "strong-buy" rating in a research note on Thursday, March 6th. BMO Capital Markets upgraded Lundin Mining from an "outperform" rating to a "strong-buy" rating in a report on Friday, June 6th. Scotiabank reiterated an "outperform" rating on shares of Lundin Mining in a report on Monday, May 5th. Finally, Canaccord Genuity Group raised Lundin Mining from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat, Lundin Mining presently has an average rating of "Buy".

Lundin Mining Price Performance

The stock has a market cap of $9.26 billion, a P/E ratio of -83.23, a price-to-earnings-growth ratio of 0.87 and a beta of 1.34. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 1.88. The firm has a 50-day moving average price of $9.26 and a 200-day moving average price of $8.70.

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 the consensus estimate of $0.11. The company had revenue of $963.90 million for the quarter, compared to analysts' expectations 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, analysts forecast that Lundin Mining Corp. will post 0.53 earnings per share for the current fiscal year.

Lundin Mining Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, June 25th. Investors of record on Friday, June 6th were paid a $0.0198 dividend. The ex-dividend date was Thursday, June 5th. This represents a dividend yield of 0.84%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.