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

Shares of Lundin Mining Corp. (OTCMKTS:LUNMF) 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”.

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

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.