Short Interest in Lundin Mining Co. (OTCMKTS:LUNMF) Grows By 17.3%

Lundin Mining Co. (OTCMKTS:LUNMFGet Rating) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 17,656,300 shares, an increase of 17.3% from the August 15th total of 15,047,800 shares. Based on an average daily trading volume, of 161,300 shares, the short-interest ratio is currently 109.5 days.

Lundin Mining Price Performance

Lundin Mining stock opened at $5.34 on Monday. The stock has a market capitalization of $4.15 billion, a PE ratio of 5.62 and a beta of 1.59. Lundin Mining has a 12 month low of $4.84 and a 12 month high of $11.25. The business has a 50 day simple moving average of $5.48 and a 200-day simple moving average of $7.64.

Lundin Mining (OTCMKTS:LUNMFGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The basic materials company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.20). The business had revenue of $590.20 million during the quarter. Lundin Mining had a net margin of 21.21% and a return on equity of 13.88%. On average, equities research analysts anticipate that Lundin Mining will post 0.63 EPS for the current fiscal year.

Lundin Mining Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, September 14th. Stockholders of record on Friday, September 2nd were paid a $0.0698 dividend. This represents a dividend yield of 5.34%. The ex-dividend date was Thursday, September 1st. Lundin Mining’s dividend payout ratio is presently 28.42%.

Analyst Ratings Changes

LUNMF has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of Lundin Mining from SEK 94 to SEK 88 and set an “equal weight” rating for the company in a research report on Thursday, June 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lundin Mining from C$10.25 to C$8.00 and set a “hold” rating for the company in a research report on Tuesday, August 9th. Raymond James dropped their target price on shares of Lundin Mining from C$12.00 to C$11.00 in a report on Wednesday, August 24th. Stifel Nicolaus dropped their target price on shares of Lundin Mining from C$14.00 to C$12.50 in a report on Friday, July 29th. Finally, Credit Suisse Group dropped their target price on shares of Lundin Mining from C$8.50 to C$7.75 in a report on Thursday, September 8th. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.92.

About Lundin Mining

(Get Rating)

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Brazil, Chile, Portugal, Sweden, and the United States. It primarily produces copper, zinc, nickel, and gold, as well as lead, silver, and other metals. The company holds 100% interests in the Chapada mine located in Brazil; the Neves-Corvo mine located in Portugal; the Eagle mine located in the United States; and the Zinkgruvan mine located in Sweden.

See Also

Receive News & Ratings for Lundin Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lundin Mining and related companies with MarketBeat.com's FREE daily email newsletter.