Lundin Mining (OTCMKTS:LUNMF) Shares Gap Up - Here's Why

Key Points

• Lundin Mining shares gapped higher, opening at $24.99 versus a previous close of $23.60, though they later traded at $24.57 on limited volume.
• Analyst sentiment remains mixed but leans neutral: four analysts rate the stock a Buy and eight rate it a Hold, producing a consensus rating of Hold.
• In its latest quarter, Lundin Mining reported $0.30 in EPS, missing estimates by $0.04, while revenue of $1.21 billion exceeded expectations by approximately $20 million.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report) gapped up before the market opened on Monday. The stock had previously closed at $23.60, but opened at $24.99. Lundin Mining shares last traded at $24.5724, with a volume of 1,412 shares traded.

Analyst Ratings Changes

Several research analysts have commented on LUNMF shares. Citigroup restated a "positive" rating on shares of Lundin Mining in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Lundin Mining in a research note on Thursday, July 2nd. Dnb Carnegie raised Lundin Mining to a "hold" rating in a report on Friday, July 3rd. Scotiabank reiterated an "outperform" rating on shares of Lundin Mining in a research note on Tuesday, July 7th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating on shares of Lundin Mining in a research note on Thursday, June 18th. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, Lundin Mining currently has a consensus rating of "Hold".

Lundin Mining Price Performance

The business's fifty day moving average price is $25.51 and its 200 day moving average price is $26.08. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.60 and a quick ratio of 1.05. The stock has a market cap of $20.86 billion, a P/E ratio of 14.16, a PEG ratio of 0.98 and a beta of 1.27.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.04). The company 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%. Sell-side analysts forecast that Lundin Mining Corp. will post 1.26 EPS for the current fiscal year.

Lundin Mining Company Profile

Lundin Mining Corporation is a Canadian base-metals mining company focused primarily on the exploration, development and operation of copper mines. The company also produces gold, molybdenum, nickel and other byproducts, depending on the ore bodies it operates. Its products are supplied to global markets and support industries such as construction, electrical equipment, transportation and manufacturing.

Lundin Mining's principal assets include the Candelaria copper, gold and silver complex and the Caserones copper-molybdenum mine in Chile, as well as the Eagle nickel-copper mine in Michigan.

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