Lundin Mining (OTCMKTS:LUNMF) Shares Down 4.4% – Should You Sell?

Lundin Mining Corp. (OTCMKTS:LUNMF) dropped 4.4% during mid-day trading on Wednesday. The stock traded as low as $21.50 and last traded at $21.50. 1,662 shares were traded during trading, a decline of 99% from the average session volume of 203,037 shares. The stock had previously closed at $22.48.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group upgraded shares of Lundin Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Lundin Mining Stock Performance

The stock has a market cap of $17.81 billion, a PE ratio of 11.56, a P/E/G ratio of 1.12 and a beta of 1.24. The company has a quick ratio of 1.05, a current ratio of 1.60 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average of $23.44 and a 200 day moving average of $25.71.

Lundin Mining (OTCMKTS:LUNMF) last issued its earnings results on Wednesday, November 4th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Lundin Mining had a return on equity of 14.25% and a net margin of 32.52%. Equities analysts predict that Lundin Mining Corp. will post 1.27 EPS for the current fiscal year.

Lundin Mining Company Profile

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.