We recently highlighted Copper in our recent Freeport McMoran commentary earlier this month. Copper itself is widely viewed as the ânew oilâ of electrification because of its essential role in electric vehicles, renewable power systems, grid expansion, and digital infrastructure. With long-term demand expected to outpace supply. Letâs take a look at another Copper name today as we review the shares of Lundin Mining Corp. (LUN.TO).
On November 5th Lundin released their Third Quarter 2025 report: Results and Increases Full-Year Copper Production Guidance and Lowers Cost Guidance. They were pleased to announce another solid quarter at Lundin Mining, with copper production, revenue, EBITDA, and earnings all exceeding results from the first and second quarters. The Company generated over $1 billion in revenue and delivered $383 million of adjusted operating cash flow. Consolidated copper cash cost of $1.61 /lb marks the lowest quarterly cost this year and consolidated copper guidance for the full-year is increasing to 319,000 â 337,000 tonnes of copper.
Lundin Mining has shown consistent strength since its entry into the favored zone of the S&P/TSX Capped Composite Index report on September 23, 2025, when the shares were at $17.59. As of Fridayâs close, the shares were at $28.30 representing a 60% increase since then. In looking at the attached candlestick chart, we see the shares gap up above $24 in early November after the shares reported their positive quarterly earnings. Since then, the shares have remained strong with the uptrend is still intact.
Now that the shares are at all-time high territory, lets look at the point and figure chart at a 2% scale to identify upcoming resistance and support levels. The recent breakout occurred at the prior resistance level of $26.51. In this new high territory, next resistance is at $29.86 which closely aligns with the $30 round number. To the downside, support is $25.99 based on the polarity principal and its 3-box reversal and next support below that is, $24.01. Against a positive sector backdrop of Metals and Mining which is also a favored sector within SIAâs Market Sector report the shares currently exhibit a bullish Double Top Pattern and with a SMAX of a perfect 10 out of 10, the shares exhibit very good near term strength against the asset classes.
Lundin Mining Corp is a diversified Canadian base metals mining company with operations in Brazil, Chile, Portugal, Sweden and the United States of America producing copper zinc gold and nickel. Its material mineral properties include Candelaria Chapada Eagle and Neves-Corvo.
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