Lundin Mining (OTCMKTS:LUNMF) Sees Strong Trading Volume - What's Next?

Key Points

• Lundin Mining’s trading volume surged 95% to 359,385 shares, while the stock fell 6.9% to $21.44 from its prior close of $22.785.
• Analyst sentiment is mixed: four analysts rate the stock a Buy and eight rate it a Hold, producing an overall MarketBeat consensus rating of “Hold.”
• The company’s latest quarterly results showed revenue of $1.21 billion, above expectations, but earnings per share of $0.30 missed the $0.34 consensus estimate.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report) saw unusually-strong trading volume on Thursday. 359,385 shares were traded during trading, an increase of 95% from the previous session's volume of 184,416 shares. The stock last traded at $21.44 and had previously closed at $22.7850.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LUNMF shares. Scotiabank reissued an "outperform" rating on shares of Lundin Mining in a research report on Tuesday, July 7th. Canaccord Genuity Group cut Lundin Mining from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. Citigroup reiterated a "positive" rating on shares of Lundin Mining in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Lundin Mining in a research note on Thursday, July 2nd. Finally, Dnb Carnegie raised Lundin Mining to a "hold" rating in a report on Friday, July 3rd. Four equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold".

Lundin Mining Trading Down 6.9%

The company has a current ratio of 1.60, a quick ratio of 1.05 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $18.06 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.21 and a beta of 1.27. The company has a fifty day moving average of $25.02 and a 200-day moving average of $26.07.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) last released its earnings results on Wednesday, August 5th. The basic materials company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.04). The business had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.19 billion. Lundin Mining had a return on equity of 13.18% and a net margin of 31.82%. As a group, equities research analysts anticipate that Lundin Mining Corp. will post 1.31 earnings per share for the current fiscal year.

Lundin Mining Company Profile

Lundin Mining Corporation is a Canadian base-metals mining company headquartered in Vancouver, British Columbia. The company explores, develops, and operates mines that produce copper, zinc, gold, and silver, with copper representing its primary focus. Its products are sold to customers in industrial and metals markets.

Lundin Mining's principal assets have included the Candelaria copper-gold-silver complex and Caserones copper-molybdenum mine in Chile, the Eagle nickel-copper mine in Michigan, and the Zinkgruvan zinc-lead-silver mine in Sweden.

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