Short Interest in Lundin Mining Co. (OTCMKTS:LUNMF) Increases By 32.8%

Lundin Mining Co. (OTCMKTS:LUNMFGet Rating) was the recipient of a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 9,464,100 shares, a growth of 32.8% from the April 15th total of 7,124,600 shares. Based on an average trading volume of 132,800 shares, the days-to-cover ratio is presently 71.3 days.

Shares of LUNMF traded up $0.37 during midday trading on Tuesday, hitting $7.98. 97,926 shares of the company traded hands, compared to its average volume of 68,873. The stock has a 50-day moving average of $9.63 and a 200-day moving average of $8.92. Lundin Mining has a one year low of $6.66 and a one year high of $12.20. The firm has a market cap of $6.21 billion, a P/E ratio of 5.77 and a beta of 1.64.

Lundin Mining (OTCMKTS:LUNMFGet Rating) last announced its quarterly earnings results on Thursday, February 17th. The basic materials company reported $0.38 earnings per share for the quarter. Lundin Mining had a return on equity of 19.98% and a net margin of 27.68%. The firm had revenue of $1.02 billion for the quarter. On average, equities research analysts predict that Lundin Mining will post 1.51 earnings per share for the current fiscal year.

The business also recently disclosed a dividend, which was paid on Wednesday, April 13th. Investors of record on Friday, March 25th were given a $0.1575 dividend. This represents a dividend yield of 6.43%. The ex-dividend date of this dividend was Thursday, March 24th. Lundin Mining’s dividend payout ratio (DPR) is 46.67%.

A number of equities analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Lundin Mining in a report on Monday, May 2nd. They issued an “outperform” rating on the stock. National Bank Financial boosted their price target on shares of Lundin Mining from C$13.50 to C$14.00 in a report on Friday, May 6th. Raymond James boosted their price target on shares of Lundin Mining from C$15.00 to C$16.00 in a report on Wednesday, April 20th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Lundin Mining from SEK 90 to SEK 85 and set a “hold” rating on the stock in a report on Friday, April 29th. Finally, TD Securities boosted their price target on shares of Lundin Mining from C$12.50 to C$15.00 in a report on Friday, April 29th. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.28.

Lundin Mining Company Profile (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.

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