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

Key Points

• Lundin Mining shares fell sharply, opening at $21.03 versus a prior close of $22.7850, and last traded near $21.07.
• Analyst sentiment is mixed but leans cautious: four analysts rate the stock a Buy and eight rate it a Hold, producing an overall MarketBeat consensus rating of Hold.
• The company reported quarterly EPS of $0.30, below the $0.34 consensus estimate, although revenue of $1.21 billion exceeded expectations of $1.19 billion. Analysts forecast full-year EPS of approximately $1.32.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report) shares gapped down prior to trading on Friday. The stock had previously closed at $22.7850, but opened at $21.03. Lundin Mining shares last traded at $21.0705, with a volume of 5,337 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LUNMF shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Lundin Mining in a research note on Thursday, July 2nd. Canaccord Genuity Group downgraded Lundin Mining from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th. Scotiabank reaffirmed an "outperform" rating on shares of Lundin Mining in a report on Tuesday, July 7th. Dnb Carnegie raised shares of Lundin Mining to a "hold" rating in a report on Friday, July 3rd. Finally, Citigroup restated a "positive" rating on shares of Lundin Mining in a research report on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold".

Lundin Mining Price Performance

The stock has a market capitalization of $18.17 billion, a PE ratio of 12.34, a PEG ratio of 1.17 and a beta of 1.27. The firm's 50-day moving average price is $24.94 and its 200-day moving average price is $26.04. 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 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 firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. Lundin Mining had a net margin of 31.82% and a return on equity of 13.18%. On average, equities analysts forecast that Lundin Mining Corp. will post 1.32 EPS 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, 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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