Canaccord Genuity Group Upgrades Lundin Mining (OTCMKTS:LUNMF) to Strong-Buy

Canaccord Genuity Group upgraded shares of Lundin Mining (OTCMKTS:LUNMF - Free Report) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday, April 16th,Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. The Goldman Sachs Group raised shares of Lundin Mining from a "buy" rating to a "strong-buy" rating in a research report on Thursday, March 6th. TD Securities upgraded shares of Lundin Mining from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 15th. Stifel Canada upgraded shares of Lundin Mining to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, Desjardins upgraded Lundin Mining to a "moderate buy" rating in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Strong Buy".

Lundin Mining Stock Up 3.6 %

Shares of Lundin Mining stock traded up $0.27 during trading on Wednesday, reaching $7.96. 250,913 shares of the company traded hands, compared to its average volume of 306,085. Lundin Mining has a 1-year low of $6.30 and a 1-year high of $13.26. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.40 and a quick ratio of 0.96. The firm has a market capitalization of $6.90 billion, a PE ratio of 22.12, a P/E/G ratio of 0.36 and a beta of 1.39. The company has a 50 day moving average price of $8.18 and a 200-day moving average price of $8.91.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.10). Lundin Mining had a return on equity of 5.02% and a net margin of 6.63%. The firm had revenue of $858.90 million during the quarter, compared to the consensus estimate of $1.06 billion. As a group, equities research analysts expect that Lundin Mining will post 0.53 earnings per share for the current fiscal year.

Lundin Mining Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 24th were given a $0.0634 dividend. This represents a yield of 2.79%. The ex-dividend date of this dividend was Friday, March 21st. Lundin Mining's dividend payout ratio is -92.31%.

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.