Q2 2024 EPS Estimates for Lundin Mining Co. Boosted by Analyst (TSE:LUN)

Lundin Mining Co. (TSE:LUN) – Raymond James increased their Q2 2024 EPS estimates for Lundin Mining in a research note issued on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings per share of $0.21 for the quarter, up from their prior estimate of $0.12. The consensus estimate for Lundin Mining’s current full-year earnings is $0.84 per share. Raymond James also issued estimates for Lundin Mining’s Q4 2024 earnings at $0.25 EPS and FY2024 earnings at $0.86 EPS.

Lundin Mining (TSE:LUN) last posted its earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.01). The business had revenue of C$1.44 billion during the quarter, compared to analysts’ expectations of C$1.39 billion. Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%.

A number of other brokerages also recently issued reports on LUN. BMO Capital Markets upgraded Lundin Mining from a “market perform” rating to an “outperform” rating and raised their price target for the stock from C$12.00 to C$16.00 in a research report on Wednesday, March 27th. Morgan Stanley raised their price target on Lundin Mining from C$16.30 to C$16.40 in a research report on Tuesday. Eight Capital downgraded Lundin Mining from a “buy” rating to a “neutral” rating and raised their price target for the stock from C$13.00 to C$16.00 in a research report on Monday, April 22nd. Pi Financial restated a “buy” rating on shares of Lundin Mining in a research report on Friday, March 1st. Finally, UBS Group raised their price target on Lundin Mining from C$12.50 to C$18.25 in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$14.93.

Lundin Mining Stock Up 4.0 %

Shares of LUN opened at C$16.23 on Thursday. The company has a market cap of C$12.58 billion, a PE ratio of 38.64, a P/E/G ratio of -0.26 and a beta of 1.85. The business has a fifty day moving average of C$13.45 and a 200 day moving average of C$11.19. Lundin Mining has a 52-week low of C$8.18 and a 52-week high of C$16.51. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 23.15.

Insider Activity

In other news, Senior Officer Annie Laurenson sold 5,200 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$13.30, for a total transaction of C$69,160.00. Insiders own 15.70% of the company’s stock.

Lundin Mining Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.36 annualized dividend and a dividend yield of 2.22%. Lundin Mining’s dividend payout ratio is currently 85.71%.

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, Brazil, the United States, Portugal, Sweden, and Argentina. It primarily produces copper, zinc, gold, nickel, and molybdenum, as well as lead, silver, and other metals.