Lundin Mining (OTCMKTS:LUNMF) Stock Breaks Below 50-Day Moving Average - Time to Sell?

Key Points

• Lundin Mining shares fell below their 50-day moving average, trading as low as $23.94 versus the $25.58 average, and last changing hands at $24.52.
• Analyst sentiment is mixed but leans neutral: four analysts rate the stock Buy and eight rate it Hold, producing an overall “Hold” consensus. Canaccord Genuity recently downgraded the shares from Strong Buy to Hold.
• The company’s latest quarterly EPS of $0.30 missed estimates of $0.34, although revenue of $1.21 billion exceeded expectations of $1.19 billion. Analysts expect full-year EPS of $1.28.

Lundin Mining Corp. (OTCMKTS:LUNMF - Get Free Report)'s share price crossed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $25.58 and traded as low as $23.9391. Lundin Mining shares last traded at $24.52, with a volume of 122,251 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LUNMF. Citigroup reissued a "positive" rating on shares of Lundin Mining in a research note on Wednesday, July 15th. Canaccord Genuity Group lowered Lundin Mining from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. Scotiabank restated an "outperform" rating on shares of Lundin Mining in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Lundin Mining in a report on Thursday, July 2nd. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Lundin Mining in a research report on Thursday, June 18th. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

Lundin Mining Price Performance

The firm's fifty day simple moving average is $25.58 and its two-hundred day simple moving average is $26.03. The firm has a market cap of $20.87 billion, a PE ratio of 14.17, a P/E/G ratio of 0.92 and a beta of 1.27. The company has a quick ratio of 1.05, a current ratio of 1.60 and a debt-to-equity ratio of 0.02.

Lundin Mining (OTCMKTS:LUNMF - Get Free Report) last released its 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 business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.19 billion. Lundin Mining had a return on equity of 13.18% and a net margin of 31.82%. As a group, research analysts expect that Lundin Mining Corp. will post 1.28 EPS for the current year.

About Lundin Mining

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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