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

Lundin Mining Corp. (OTCMKTS:LUNMF)’s stock price gapped up prior to trading on Monday. The stock had previously closed at $19.99, but opened at $21.73. Lundin Mining shares last traded at $22.00, with a volume of 11,459 shares.

Wall Street Analysts Forecast Growth

LUNMF has been the topic of several research reports. Canaccord Genuity Group upgraded shares of Lundin Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Citigroup reaffirmed a “positive” rating on shares of Lundin Mining in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Lundin Mining Stock Up 6.5%

The company has a current ratio of 1.60, a quick ratio of 1.05 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $23.82 and a 200 day simple moving average of $25.78. The firm has a market capitalization of $18.96 billion, a PE ratio of 12.30, a PEG ratio of 1.07 and a beta of 1.24.

Lundin Mining (OTCMKTS:LUNMF) last announced its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.13 billion. Lundin Mining had a return on equity of 14.25% and a net margin of 32.52%. As a group, sell-side analysts forecast that Lundin Mining Corp. will post 1.33 earnings per share for the current year.

About Lundin Mining

Lundin Mining is a Canadian mining company headquartered in Vancouver, focused primarily on the exploration, development and production of copper. Its operations in South America include the Candelaria and Caserones mines in Chile and the Chapada mine in Brazil.

The company’s principal product is copper, with gold, silver and molybdenum also produced as by-products at some of its operations. Lundin Mining is also involved in developing the Vicuña district, a copper, gold and silver project spanning Argentina and Chile, through a joint venture with BHP.

Jack Lundin serves as the company’s president and chief executive officer.