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Note: this trade idea was originally published on June 17, 2019, for Industrial Minefinder™ subscribers when Lundin Mining was trading for CAN $6.76/USD $5.03 (end of day close).
Introduction
Canadian-based Lundin Mining (LUN.TO, LUNMF) is a base metals producer with revenues heavily weighted towards copper (~75%). At this stage of its progression, it is fair to lump Lundin in with primary copper producers such as Freeport-McMoRan (FCX), Antofagasta (ANTO.L; ANFGF; ANFGY), and Southern Copper (SCCO) for comparative purposes.
Lundin's stock price was almost cut in half from its