Lundin Mining (OTCMKTS:LUNMF) Stock Passes Above 50-Day Moving Average – Here’s Why

Lundin Mining Co. (OTCMKTS:LUNMF)’s stock price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $9.66 and traded as high as $10.75. Lundin Mining shares last traded at $10.70, with a volume of 124,416 shares trading hands.

Analysts Set New Price Targets

Separately, Scotiabank raised shares of Lundin Mining to a “hold” rating in a research note on Monday, July 15th.

Lundin Mining Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.57 and a quick ratio of 1.04. The firm has a market cap of $8.26 billion, a PE ratio of 70.87, a P/E/G ratio of 0.27 and a beta of 1.49. The business’s fifty day moving average is $9.68 and its 200-day moving average is $10.67.

Lundin Mining (OTCMKTS:LUNMF) last posted its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Lundin Mining had a return on equity of 5.19% and a net margin of 4.21%. The company had revenue of $1.08 billion during the quarter. On average, research analysts predict that Lundin Mining Co. will post 0.73 earnings per share for the current fiscal year.

Lundin Mining Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, September 2nd were paid a dividend of $0.065 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a dividend yield of 2.6%. Lundin Mining’s payout ratio is 173.33%.

Lundin Mining Company Profile

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, Brazil, the United States, Portugal, Sweden, and Argentina. It primarily produces copper, zinc, gold, nickel, and molybdenum, as well as lead, silver, and other metals.