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

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

Wall Street Analyst Weigh In

LUNMF has been the topic of a number of recent analyst reports. Canaccord Genuity Group upgraded Lundin Mining from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 16th. Dnb Nor Markets raised Lundin Mining to a "hold" rating in a research report on Tuesday, June 17th. The Goldman Sachs Group raised Lundin Mining from a "buy" rating to a "strong-buy" rating in a research report on Thursday, March 6th. BMO Capital Markets raised Lundin Mining from an "outperform" rating to a "strong-buy" rating in a research report on Friday, June 6th. Finally, Desjardins raised Lundin Mining to a "moderate buy" rating in a research report on Thursday, April 3rd. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy".

Lundin Mining Stock Performance

The company has a market capitalization of $8.97 billion, a PE ratio of 21.83, a PEG ratio of 0.91 and a beta of 1.34. The company has a quick ratio of 1.53, a current ratio of 1.88 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $9.38 and a two-hundred day moving average price of $8.71.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $963.90 million during 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%. Analysts predict that Lundin Mining Corp. will post 0.53 EPS for the current fiscal year.

Lundin Mining Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, June 25th. Stockholders of record on Friday, June 6th were given a $0.0198 dividend. This represents a dividend yield of 0.84%. The ex-dividend date was Thursday, June 5th. Lundin Mining's dividend payout ratio (DPR) is presently -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.