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

Lundin Mining Co. (OTCMKTS:LUNMF) saw a significant growth in short interest in October. As of October 15th, there was short interest totalling 20,443,500 shares, a growth of 16.7% from the September 30th total of 17,520,300 shares. Based on an average trading volume of 59,800 shares, the short-interest ratio is currently 341.9 days.

Lundin Mining Price Performance

OTCMKTS:LUNMF traded down $0.23 during trading hours on Wednesday, reaching $10.41. The stock had a trading volume of 18,798 shares, compared to its average volume of 128,617. The stock has a market capitalization of $8.08 billion, a PE ratio of 69.40, a PEG ratio of 0.35 and a beta of 1.49. Lundin Mining has a 52 week low of $5.91 and a 52 week high of $13.26. The company has a 50 day moving average price of $10.00 and a two-hundred day moving average price of $10.65. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.57.

Lundin Mining (OTCMKTS:LUNMF) last released 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 business had revenue of $1.08 billion for the quarter. Lundin Mining had a net margin of 4.21% and a return on equity of 5.19%. As a group, sell-side analysts anticipate that Lundin Mining will post 0.6 earnings per share for the current fiscal year.

Lundin Mining Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, September 2nd were given a dividend of $0.065 per share. The ex-dividend date was Friday, August 30th. This represents a yield of 2.6%. Lundin Mining’s dividend payout ratio (DPR) is presently 173.33%.

Wall Street Analysts Forecast Growth

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.