Lundin Mining Co. (OTCMKTS:LUNMF) Sees Large Increase in Short Interest

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

Lundin Mining Stock Down 2.2 %

OTCMKTS:LUNMF traded down $0.21 during mid-day trading on Friday, hitting $9.37. 19,967 shares of the company’s stock traded hands, compared to its average volume of 144,327. The company has a market capitalization of $7.28 billion, a P/E ratio of 62.47, a P/E/G ratio of 0.23 and a beta of 1.49. Lundin Mining has a twelve month low of $5.91 and a twelve month high of $13.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.57. The company has a fifty day moving average of $10.49 and a 200 day moving average of $10.34.

Lundin Mining (OTCMKTS:LUNMF) last posted its quarterly earnings data 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). The company had revenue of $1.08 billion for the quarter. Lundin Mining had a return on equity of 5.19% and a net margin of 4.21%. On average, analysts forecast that Lundin Mining will post 0.87 EPS for the current year.

Lundin Mining Cuts Dividend

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

Wall Street Analyst Weigh In

Separately, Scotiabank raised shares of Lundin Mining to a “hold” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Lundin Mining presently has a consensus rating of “Hold” and a consensus price target 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.