Lundin Mining (OTCMKTS:LUNMF) Shares Gap Up – Time to Buy?

Lundin Mining Corp. (OTCMKTS:LUNMF)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $27.77, but opened at $29.4050. Lundin Mining shares last traded at $27.04, with a volume of 4,704 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LUNMF shares. Citigroup reaffirmed a “buy” rating on shares of Lundin Mining in a research report on Wednesday, February 11th. National Bank Financial cut shares of Lundin Mining from an “outperform” rating to a “hold” rating in a research note on Monday, February 16th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Lundin Mining in a research note on Tuesday, April 21st. TD Securities reiterated a “buy” rating on shares of Lundin Mining in a research note on Monday, February 23rd. Finally, Scotiabank reiterated an “outperform” rating on shares of Lundin Mining in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Lundin Mining Stock Down 2.8%

The business’s 50 day moving average is $26.30 and its 200 day moving average is $23.76. The company has a market capitalization of $23.08 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.31 and a beta of 1.18. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.64.

Lundin Mining (OTCMKTS:LUNMF) last released its earnings results on Wednesday, May 6th. The basic materials company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Lundin Mining had a net margin of 32.67% and a return on equity of 12.06%. Sell-side analysts anticipate that Lundin Mining Corp. will post 1.21 earnings per share for the current year.

About Lundin Mining

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.