Lundin Mining (OTCMKTS:LUNMF) Shares Gap Down - Time to Sell?

Key Points

• Lundin Mining shares gapped down from a prior close of $28.28 to open at $26.90, later trading at $27.58 on relatively light volume.
• Analyst sentiment is mixed but leans cautious: four analysts rate the stock a Buy and nine rate it a Hold, resulting in a consensus “Hold” rating. Canaccord Genuity recently downgraded the shares from Strong Buy to Hold.
• In its latest quarter, Lundin Mining reported $0.30 in EPS, missing the $0.34 estimate, while revenue of $1.21 billion exceeded expectations of $1.19 billion. Analysts expect full-year EPS of approximately $1.28.

Shares of Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $28.28, but opened at $26.90. Lundin Mining shares last traded at $27.58, with a volume of 2,062 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Lundin Mining in a research note on Thursday, July 2nd. Citigroup restated a "positive" rating on shares of Lundin Mining in a research report on Wednesday, July 15th. Canaccord Genuity Group lowered Lundin Mining from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. Dnb Carnegie upgraded Lundin Mining to a "hold" rating in a research report on Friday, July 3rd. Finally, Royal Bank Of Canada reissued a "sector perform" rating on shares of Lundin Mining in a research note on Thursday, June 18th. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

Lundin Mining Stock Performance

The stock's 50 day moving average price is $25.37 and its two-hundred day moving average price is $26.52. The company has a current ratio of 1.81, a quick ratio of 1.29 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $22.84 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.09 and a beta of 1.26.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.04). Lundin Mining had a return on equity of 13.41% and a net margin of 31.82%.The company had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.19 billion. On average, analysts forecast that Lundin Mining Corp. will post 1.28 EPS for the current year.

Lundin Mining Company Profile

Lundin Mining Corporation is a Canada-based diversified base metals mining company engaged in the acquisition, exploration, development, and operation of mines. The company's portfolio encompasses copper, nickel, zinc, and lead, with by-products including gold and silver. Through its technical expertise and focus on cost-effective operations, Lundin Mining aims to maximize long-term value while meeting industry standards for safety and environmental stewardship.

Operationally, Lundin Mining holds interests in several producing assets across the Americas and Europe.

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