Lundin Mining (OTCMKTS:LUNMF) Announces Earnings Results

Lundin Mining (OTCMKTS:LUNMF) released its quarterly earnings results on Wednesday. The basic materials company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.09), Zacks reports. Lundin Mining had a return on equity of 4.97% and a net margin of 6.63%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.10 billion.

Lundin Mining Stock Performance

LUNMF stock traded down $0.53 during midday trading on Friday, reaching $9.92. 22,864 shares of the company’s stock traded hands, compared to its average volume of 58,485. Lundin Mining has a 52-week low of $5.91 and a 52-week high of $13.26. The stock has a market cap of $7.71 billion, a P/E ratio of 27.56, a PEG ratio of 0.33 and a beta of 1.50. The company has a current ratio of 1.49, a quick ratio of 1.00 and a debt-to-equity ratio of 0.20. The stock’s 50-day moving average is $9.95 and its 200 day moving average is $10.58.

Lundin Mining Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, September 2nd were issued a $0.065 dividend. This represents a yield of 2.6%. The ex-dividend date of this dividend was Friday, August 30th. Lundin Mining’s payout ratio is 72.22%.

Analyst Ratings Changes

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

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.