Lundin Mining (OTCMKTS:LUNMF) Stock Price Passes Below 50-Day Moving Average – What’s Next?

Shares of Lundin Mining Corp. (OTCMKTS:LUNMF) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $26.02 and traded as low as $22.22. Lundin Mining shares last traded at $22.44, with a volume of 113,817 shares.

Wall Street Analyst Weigh In

LUNMF has been the subject of several research analyst reports. TD Securities reiterated a “buy” rating on shares of Lundin Mining in a research note on Monday, February 23rd. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Lundin Mining in a research note on Wednesday, February 4th. Scotiabank reaffirmed an “outperform” rating on shares of Lundin Mining in a report on Tuesday, February 24th. National Bank Financial downgraded shares of Lundin Mining from an “outperform” rating to a “hold” rating in a research note on Monday, February 16th. Finally, Cormark raised shares of Lundin Mining from a “hold” rating to a “moderate buy” rating in a research report on Monday, December 22nd. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Lundin Mining Trading Down 2.6%

The company has a market cap of $19.17 billion, a P/E ratio of 14.96, a P/E/G ratio of 1.24 and a beta of 1.15. The business has a fifty day simple moving average of $26.02 and a 200 day simple moving average of $20.74. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.64.

Lundin Mining (OTCMKTS:LUNMF) last issued its quarterly earnings results on Thursday, February 19th. The basic materials company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.18 billion. Lundin Mining had a return on equity of 10.02% and a net margin of 30.48%. Analysts anticipate that Lundin Mining Corp. will post 0.53 earnings per share for the current fiscal year.

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.