Lundin Mining Co. (OTCMKTS:LUNMF) Sees Significant Growth in Short Interest

Lundin Mining Co. (OTCMKTS:LUNMF) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 15,459,800 shares, an increase of 25.9% from the July 15th total of 12,277,500 shares. Based on an average trading volume of 187,400 shares, the short-interest ratio is presently 82.5 days.

Lundin Mining Stock Performance

Shares of OTCMKTS LUNMF traded down $0.21 during mid-day trading on Friday, hitting $9.37. The company had a trading volume of 19,967 shares, compared to its average volume of 144,327. The stock has a market cap of $7.28 billion, a price-to-earnings ratio of 62.47, a PEG ratio of 0.23 and a beta of 1.49. The firm’s 50 day simple moving average is $10.49 and its two-hundred day simple moving average is $10.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.57 and a quick ratio of 1.04. Lundin Mining has a 12 month low of $5.91 and a 12 month high of $13.26.

Lundin Mining (OTCMKTS:LUNMF) last released its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). Lundin Mining had a return on equity of 5.19% and a net margin of 4.21%. The firm had revenue of $1.08 billion for the quarter. As a group, equities research analysts forecast that Lundin Mining will post 0.87 earnings per share for the current year.

Lundin Mining Cuts Dividend

The business also recently announced a dividend, which was paid on Wednesday, June 19th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.0657 per share. The ex-dividend date was Friday, May 31st. This represents a yield of 2.2%. Lundin Mining’s payout ratio is 173.33%.

Analysts Set New Price Targets

Separately, Scotiabank upgraded Lundin Mining to a “hold” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.63.

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.