Lundin Mining (OTCMKTS:LUNMF) Shares Gap Up - Should You Buy?

Key Points

• Lundin Mining shares jumped, opening at $27.59 versus a prior close of $25.62, before trading near $27.49 on relatively low volume.
• Analyst sentiment is mixed but leans cautious: four analysts rate the stock a Buy and nine rate it a Hold, giving Lundin Mining an overall “Hold” consensus.
• The company reported quarterly EPS of $0.30, below the $0.34 consensus estimate, while revenue of $1.21 billion exceeded expectations. Analysts project full-year EPS of $1.27.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $25.62, but opened at $27.59. Lundin Mining shares last traded at $27.49, with a volume of 827 shares trading hands.

Wall Street Analysts Forecast Growth

LUNMF has been the topic of a number of recent research reports. Royal Bank Of Canada restated a "sector perform" rating on shares of Lundin Mining in a research note on Thursday, June 18th. Dnb Carnegie upgraded shares of Lundin Mining to a "hold" rating in a research note on Friday, July 3rd. Canaccord Genuity Group cut shares of Lundin Mining from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. Scotiabank restated an "outperform" rating on shares of Lundin Mining in a research report on Tuesday, July 7th. Finally, Barclays raised Lundin Mining to a "hold" rating in a report on Friday, May 22nd. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold".

Lundin Mining Stock Performance

The stock has a market capitalization of $22.68 billion, a P/E ratio of 15.40, a PEG ratio of 1.01 and a beta of 1.29. The company has a quick ratio of 1.05, a current ratio of 1.60 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $25.64 and a two-hundred day moving average price of $26.54.

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). The firm had revenue of $1.21 billion during 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%. Equities analysts expect that Lundin Mining Corp. will post 1.27 earnings per share 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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