Lundin Mining (OTCMKTS:LUNMF) Share Price Passes Above 50-Day Moving Average – Here’s What Happened

Shares of Lundin Mining Corp. (OTCMKTS:LUNMF) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $25.38 and traded as high as $26.10. Lundin Mining shares last traded at $26.10, with a volume of 29,368 shares trading hands.

Analysts Set New Price Targets

LUNMF has been the subject of a number of analyst reports. Citigroup restated a “positive” rating on shares of Lundin Mining in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Lundin Mining in a research report on Thursday, July 2nd. Royal Bank Of Canada restated a “sector perform” rating on shares of Lundin Mining in a report on Thursday, June 18th. Barclays upgraded shares of Lundin Mining to a “hold” rating in a research report on Friday, May 22nd. Finally, Dnb Carnegie upgraded shares of Lundin Mining to a “hold” rating in a research report on Friday, July 3rd. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Lundin Mining Trading Down 0.1%

The company has a current ratio of 1.81, a quick ratio of 1.29 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average of $25.35 and a 200 day moving average of $26.41. The company has a market cap of $21.83 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.26.

Lundin Mining (OTCMKTS:LUNMF) last issued its earnings results on Wednesday, August 5th. The basic materials company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). Lundin Mining had a return on equity of 13.41% and a net margin of 31.82%.The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. On average, analysts predict that Lundin Mining Corp. will post 1.33 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.