Short Interest in Lundin Mining Co. (OTCMKTS:LUNMF) Expands By 75.6%

Lundin Mining Co. (OTCMKTS:LUNMF - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 15,710,000 shares, an increase of 75.6% from the March 15th total of 8,947,300 shares. Based on an average daily volume of 151,400 shares, the short-interest ratio is presently 103.8 days.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LUNMF shares. BMO Capital Markets raised Lundin Mining from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $12.00 to $16.00 in a report on Wednesday, March 27th. Raymond James raised their price objective on Lundin Mining from $9.50 to $11.50 and gave the company a "market perform" rating in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $11.56.

Lundin Mining Price Performance

Shares of Lundin Mining stock traded down $0.01 on Friday, hitting $11.34. 45,108 shares of the company were exchanged, compared to its average volume of 182,614. Lundin Mining has a 1-year low of $5.91 and a 1-year high of $12.17. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 35.44, a price-to-earnings-growth ratio of 0.69 and a beta of 1.67. The company has a 50-day moving average price of $9.25 and a 200 day moving average price of $7.95.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The basic materials company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.06). Lundin Mining had a return on equity of 5.13% and a net margin of 7.12%. The company had revenue of $1.06 billion for the quarter. As a group, sell-side analysts predict that Lundin Mining will post 0.84 earnings per share for the current fiscal year.

Lundin Mining Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 22nd were issued a $0.0666 dividend. The ex-dividend date was Thursday, March 21st. This represents a dividend yield of 2.78%. This is a positive change from Lundin Mining's previous dividend of $0.07. Lundin Mining's dividend payout ratio is currently 84.38%.

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.

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