Research Analysts Issue Forecasts for Lundin Mining Co.’s Q3 2024 Earnings (TSE:LUN)

Lundin Mining Co. (TSE:LUN) – Stock analysts at Cormark raised their Q3 2024 earnings per share estimates for Lundin Mining in a report issued on Monday, May 6th. Cormark analyst S. Ioannou now expects that the mining company will post earnings of $0.40 per share for the quarter, up from their prior estimate of $0.30. The consensus estimate for Lundin Mining’s current full-year earnings is $0.84 per share. Cormark also issued estimates for Lundin Mining’s FY2026 earnings at $1.48 EPS.

Several other research firms have also recently weighed in on LUN. Pi Financial reaffirmed a “buy” rating on shares of Lundin Mining in a research report on Friday, March 1st. Eight Capital cut shares of Lundin Mining from a “buy” rating to a “neutral” rating and increased their target price for the stock from C$13.00 to C$16.00 in a report on Monday, April 22nd. BMO Capital Markets lowered their price target on shares of Lundin Mining from C$17.00 to C$16.50 in a research note on Thursday, May 2nd. Royal Bank of Canada increased their price objective on shares of Lundin Mining from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a research note on Friday, May 3rd. Finally, UBS Group lifted their target price on Lundin Mining from C$12.50 to C$18.25 in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$15.23.

Lundin Mining Stock Up 2.2 %

Lundin Mining stock opened at C$16.19 on Wednesday. The stock has a market capitalization of C$12.55 billion, a PE ratio of 38.55, a price-to-earnings-growth ratio of -0.26 and a beta of 1.85. Lundin Mining has a twelve month low of C$8.18 and a twelve month high of C$16.51. The company has a 50 day moving average of C$14.10 and a 200-day moving average of C$11.53. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 23.15.

Lundin Mining (TSE:LUN) last issued its quarterly earnings data on Wednesday, May 1st. The mining company reported C$0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.10 by C($0.02). The business had revenue of C$1.26 billion during the quarter, compared to analyst estimates of C$1.27 billion. Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%.

Lundin Mining Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Friday, May 31st will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, May 31st. Lundin Mining’s payout ratio is presently 85.71%.

Insider Transactions at Lundin Mining

In other news, Senior Officer Annie Laurenson sold 5,200 shares of the business’s stock in a transaction that occurred 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. 15.70% of the stock is currently owned by corporate insiders.

About Lundin Mining

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.