Lundin Mining (LUNMF) shares ended the last trading session 5.3% higher at $11.08. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7.4% gain over the past four weeks.
Lundin shares edged higher after an analyst at Raymond James upgraded the stock to Hold. The firm also released updated earnings estimates, projecting second-quarter earnings at 14 cents per share, third-quarter at 18 cents per share and fourth-quarter at 20 cents. Earnings for the full year 2025 are projected at 74 cents per share.
This base metals mining company is expected to post quarterly earnings of $0.09 per share in its upcoming report, which represents a year-over-year change of -43.8%. Revenues are expected to be $846.32 million, down 21.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Lundin, the consensus EPS estimate for the quarter has been revised 4.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on LUNMF going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Lundin belongs to the Zacks Mining - Non Ferrous industry. Another stock from the same industry, Freeport-McMoRan (FCX), closed the last trading session 3.9% higher at $45.77. Over the past month, FCX has returned 9.5%.
For Freeport-McMoRan, the consensus EPS estimate for the upcoming report has changed -1.6% over the past month to $0.46. This represents no change from what the company reported a year ago. Freeport-McMoRan currently has a Zacks Rank of #3 (Hold).
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Lundin Mining Corp. (LUNMF): Free Stock Analysis Report Freeport-McMoRan Inc. (FCX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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