Lundin Mining (OTCMKTS:LUNMF) Stock Price Passes Below Fifty Day Moving Average – Time to Sell?

Lundin Mining Corp. (OTCMKTS:LUNMF)’s stock price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $26.02 and traded as low as $22.22. Lundin Mining shares last traded at $22.44, with a volume of 113,817 shares changing hands.

Wall Street Analyst Weigh In

LUNMF has been the topic of several recent analyst reports. Citigroup reiterated a “buy” rating on shares of Lundin Mining in a research report on Wednesday, February 11th. TD Securities restated a “buy” rating on shares of Lundin Mining in a report on Monday, February 23rd. Cormark raised shares of Lundin Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, December 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Lundin Mining in a report on Tuesday, February 24th. Finally, Raymond James Financial restated a “market perform” rating on shares of Lundin Mining in a report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Lundin Mining presently has a consensus rating of “Moderate Buy”.

Lundin Mining Stock Up 1.9%

The firm’s 50-day moving average price is $25.98 and its 200-day moving average price is $20.86. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.64 and a quick ratio of 1.17. The company has a market cap of $21.69 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 1.32 and a beta of 1.30.

Lundin Mining (OTCMKTS:LUNMF) last posted its earnings results on Thursday, February 19th. The basic materials company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. Lundin Mining had a net margin of 30.48% and a return on equity of 10.02%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.18 billion. Sell-side analysts forecast that Lundin Mining Corp. will post 0.53 earnings per share for the current fiscal 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.