Lundin Mining Co. (OTCMKTS:LUNMF) Declares Quarterly Dividend of $0.03

Lundin Mining Co. (OTCMKTS:LUNMF) announced a quarterly dividend on Wednesday, July 29th, Zacks reports. Investors of record on Friday, September 4th will be paid a dividend of 0.03 per share by the basic materials company on Wednesday, September 16th. This represents a $0.12 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, September 3rd. This is a positive change from Lundin Mining’s previous quarterly dividend of $0.03.

LUNMF traded down $0.30 during trading hours on Friday, hitting $5.69. 119,450 shares of the company’s stock were exchanged, compared to its average volume of 49,999. The company has a current ratio of 1.44, a quick ratio of 1.08 and a debt-to-equity ratio of 0.05. Lundin Mining has a 12-month low of $2.82 and a 12-month high of $6.36. The firm has a market cap of $4.17 billion, a P/E ratio of 569.47 and a beta of 1.82. The firm has a 50 day moving average of $5.51 and a 200 day moving average of $4.98.

Lundin Mining (OTCMKTS:LUNMF) last posted its quarterly earnings results on Wednesday, April 29th. The basic materials company reported ($0.06) EPS for the quarter. Lundin Mining had a return on equity of 1.68% and a net margin of 0.22%. The firm had revenue of $378.00 million for the quarter.

Several brokerages have recently issued reports on LUNMF. TD Securities lowered their target price on shares of Lundin Mining from $9.50 to $9.00 and set a “hold” rating for the company in a report on Thursday. DNB Markets raised shares of Lundin Mining from a “hold” rating to a “buy” rating and set a $7.02 price objective on the stock in a research note on Friday, April 17th. Royal Bank of Canada cut shares of Lundin Mining from an “outperform” rating to a “sector perform” rating in a research note on Friday. Canaccord Genuity raised their target price on shares of Lundin Mining from $8.50 to $11.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Scotiabank raised their price target on shares of Lundin Mining from $8.50 to $8.75 and gave the company an “outperform” rating in a report on Thursday, July 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $8.29.

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, the United States, Portugal, and Sweden. It primarily produces copper, zinc, and nickel, as well as gold, lead, silver, and other metals. The company holds 100% interests in the Eagle mine located in the United States; the Neves-Corvo mine located in Portugal; the Zinkgruvan mine located in Sweden, as well as 80% interest in the Candelaria and Ojos del Salado mining complex located in Chile; 24% interest in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland; and the Chapada copper-gold mine located in Brazil.

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Dividend History for Lundin Mining (OTCMKTS:LUNMF)

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