Lundin Mining (OTCMKTS:LUNMF) Stock Price Up 6.7% Following Better-Than-Expected Earnings

by · The Markets Daily

Shares of Lundin Mining Corp. (OTCMKTS:LUNMF – Get Free Report) were up 6.7% during trading on Friday following a better than expected earnings announcement. The company traded as high as $27.84 and last traded at $27.7750. Approximately 7,363 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 208,004 shares. The stock had previously closed at $26.03.

The basic materials company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.12. Lundin Mining had a net margin of 2.01% and a return on equity of 6.80%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.18 billion.

Analyst Upgrades and Downgrades

LUNMF has been the topic of a number of research reports. Wall Street Zen cut shares of Lundin Mining from a “buy” rating to a “hold” rating in a report on Monday, November 3rd. National Bank Financial lowered shares of Lundin Mining from an “outperform” rating to a “hold” rating in a research report on Monday. Scotiabank reiterated an “outperform” rating on shares of Lundin Mining in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Lundin Mining in a research note on Wednesday, February 4th. Finally, Citigroup reiterated a “buy” rating on shares of Lundin Mining in a report on Wednesday, February 11th. Four investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Read Our Latest Stock Report on LUNMF

Lundin Mining Stock Up 8.7%

The firm has a market cap of $24.17 billion, a PE ratio of 707.35, a PEG ratio of 0.53 and a beta of 1.24. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.96 and a current ratio of 1.51. The company’s 50-day simple moving average is $23.71 and its two-hundred day simple moving average is $17.77.

About Lundin Mining

(Get Free Report)

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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