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

Key Points

• Lundin Mining shares fell 6.5%, opening at $25.30 versus the prior close of $26.938 and last trading at $25.09.
• Analyst sentiment is mixed but leans toward caution: four analysts rate the stock a Buy, nine rate it a Hold, and the consensus rating is Hold.
• The company reported quarterly earnings of $0.30 per share, below the $0.34 consensus estimate, although 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 $26.9380, but opened at $25.30. Lundin Mining shares last traded at $25.09, with a volume of 7,332 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LUNMF. Scotiabank reiterated an "outperform" rating on shares of Lundin Mining in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Lundin Mining in a research note on Thursday, July 2nd. Canaccord Genuity Group cut Lundin Mining from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Lundin Mining in a report on Thursday, June 18th. Finally, Dnb Carnegie upgraded Lundin Mining to a "hold" rating in a research report on Friday, July 3rd. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold".

Lundin Mining Trading Down 6.5%

The company has a market cap of $21.45 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.07 and a beta of 1.29. The business's fifty day moving average price is $25.70 and its 200 day moving average price is $26.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.60 and a quick ratio of 1.05.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Lundin Mining had a net margin of 31.82% and a return on equity of 13.18%. Research analysts anticipate that Lundin Mining Corp. will post 1.27 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 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.

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