Lundin Mining (OTCMKTS:LUNMF) Shares Gap Up – Still a Buy?

Lundin Mining Corp. (OTCMKTS:LUNMF) shares gapped up before the market opened on Friday . The stock had previously closed at $22.78, but opened at $24.44. Lundin Mining shares last traded at $23.82, with a volume of 2,301 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Lundin Mining in a report on Tuesday, April 21st. Scotiabank reaffirmed an “outperform” rating on shares of Lundin Mining in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Lundin Mining in a research report on Friday, May 15th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Lundin Mining in a research note on Thursday, June 18th. Finally, Barclays upgraded shares of Lundin Mining to a “hold” rating in a report on Friday, May 22nd. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Lundin Mining Price Performance

The firm has a market capitalization of $20.75 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 1.07 and a beta of 1.20. The firm has a 50 day moving average price of $27.67 and a 200-day moving average price of $25.71. The company has a current ratio of 1.81, a quick ratio of 1.29 and a debt-to-equity ratio of 0.04.

Lundin Mining (OTCMKTS:LUNMF) last released its earnings results on Wednesday, May 6th. The basic materials company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. Lundin Mining had a return on equity of 11.69% and a net margin of 32.67%.The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. On average, analysts expect 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.