Lundin Mining (OTCMKTS:LUNMF) Shares Gap Down - Should You Sell?

Key Points

• Lundin Mining shares fell 2.4%, opening at $24.31 versus the previous close of $25.56, and remained below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but leans neutral: four analysts rate the stock a Buy and eight rate it a Hold, producing an overall “Hold” consensus.
• The company reported quarterly EPS of $0.30, missing estimates of $0.34, while revenue of $1.21 billion exceeded expectations of $1.19 billion.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $25.56, but opened at $24.31. Lundin Mining shares last traded at $24.34, with a volume of 3,816 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have commented on LUNMF. Royal Bank Of Canada restated a "sector perform" rating on shares of Lundin Mining in a research report on Thursday, June 18th. Dnb Carnegie upgraded shares of Lundin Mining to a "hold" rating in a research note on Friday, July 3rd. Scotiabank reissued an "outperform" rating on shares of Lundin Mining in a report on Tuesday, July 7th. Citigroup restated a "positive" rating on shares of Lundin Mining in a research report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Lundin Mining in a research note on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Lundin Mining currently has an average rating of "Hold".

Lundin Mining Trading Down 2.4%

The company has a fifty day simple moving average of $25.69 and a 200-day simple moving average of $26.12. The stock has a market cap of $20.63 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.00 and a beta of 1.29. The company has a current ratio of 1.60, a quick ratio of 1.05 and a debt-to-equity ratio of 0.02.

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 the consensus estimate of $0.34 by ($0.04). Lundin Mining had a net margin of 31.82% and a return on equity of 13.18%. The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.19 billion. On average, research analysts forecast that Lundin Mining Corp. will post 1.28 earnings per share for the current fiscal year.

About Lundin Mining

Lundin Mining Corporation is a Canadian base-metals mining company headquartered in Vancouver, British Columbia. The company explores for, develops and operates mines producing copper, zinc, nickel, gold, silver and other byproducts.

Lundin Mining's operating portfolio includes the Candelaria copper-mining complex and Caserones copper-molybdenum mine in Chile; the Eagle nickel-copper mine in Michigan, United States; the Neves-Corvo copper-zinc mine in Portugal; and the Zinkgruvan zinc-lead-silver mine in Sweden.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.