LUNDIN MINING CORPORATION (“LUN”) a perennial favorite of many has a share price that is getting real tempting. Lundin Mining closed the week at $3.29 on excellent volume. Currently LUN is sitting in the $3.25 – $3.29 range; slightly above its year low of $2.98 and far below its high of $6.46. The volume as of late was based on the speculation that LUN may take a look at swallowing First Quantum. But that is not the only interesting aspect of Lundin Mining.
Lukas Lundin and team have done a great job of keeping LUN on solid ground and on a high road coming off the recent market meltdown in 2007-2009 and bounce/decline in 2011. The declines in metal prices seem to have been absorbed in stride. The company is currently packing more than 719 million shares outstanding, but the bright side of that is that the shares allow lots of liquidity in their market.
Lundin Mining is a producer with considerable revenue and free cash flow to shore up its balance sheet. The company is sitting on $549 million cash as at September 30, 2015. Lundin Mining is a sweetheart of many analysts and tout sheet writers, thus has a good following and highly respected. The companies’ people are very capable, and highly endorsable. JuniorMining.com sees Lundin Mining being one of the first movers on an upturn in the markets. We find ourselves seeing Lundin Mining sporting great people, great projects/investments, great stash of cash and a great share price to buy in. Wow, since all four stares line up that makes Lundin a Quadfecta.