Lundin Mining (OTCMKTS:LUNMF) Shares Up 6.7% After Earnings Beat

Lundin Mining Corp. (OTCMKTS:LUNMF) shares traded up 6.7% during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $27.84 and last traded at $27.7750. 7,363 shares changed hands during trading, a decline of 96% from the average session volume of 208,004 shares. The stock had previously closed at $26.03.

The basic materials company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.18 billion. Lundin Mining had a return on equity of 10.45% and a net margin of 30.48%.

Wall Street Analyst Weigh In

LUNMF has been the subject of a number of research reports. Scotiabank reissued an “outperform” rating on shares of Lundin Mining in a research note on Monday, January 26th. Wall Street Zen lowered Lundin Mining from a “buy” rating to a “hold” rating in a report on Monday, November 3rd. Cormark upgraded Lundin Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, December 22nd. National Bank Financial lowered Lundin Mining from an “outperform” rating to a “hold” rating in a research report on Monday. Finally, Citigroup reaffirmed a “buy” rating on shares of Lundin Mining in a research note on Wednesday, February 11th. Four analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Lundin Mining has an average rating of “Moderate Buy”.

Lundin Mining Stock Performance

The stock has a market cap of $24.70 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth 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 stock’s 50-day simple moving average is $23.89 and its two-hundred day simple moving average is $17.90.

Lundin Mining Company Profile

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.