Lundin Mining Co. (TSE:LUN) Forecasted to Earn Q3 2024 Earnings of $0.30 Per Share

Lundin Mining Co. (TSE:LUN) – Equities research analysts at Raymond James lifted their Q3 2024 earnings per share (EPS) estimates for shares of Lundin Mining in a report issued on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings per share of $0.30 for the quarter, up from their prior forecast of $0.25. The consensus estimate for Lundin Mining’s current full-year earnings is $0.84 per share.

A number of other research analysts have also recently commented on LUN. Pi Financial restated a “buy” rating on shares of Lundin Mining in a research note on Friday, March 1st. CIBC lifted their price objective on Lundin Mining from C$12.00 to C$15.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. UBS Group lifted their price objective on Lundin Mining from C$12.50 to C$18.25 in a research note on Tuesday, April 9th. Morgan Stanley lifted their price objective on Lundin Mining from C$16.30 to C$16.40 in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on Lundin Mining from C$9.10 to C$15.50 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$14.93.

Lundin Mining Trading Up 1.8 %

LUN opened at C$15.60 on Wednesday. The stock has a market cap of C$12.09 billion, a PE ratio of 37.14, a PEG ratio of -0.26 and a beta of 1.85. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 23.15. The business has a 50 day moving average of C$13.36 and a 200-day moving average of C$11.14. Lundin Mining has a 52 week low of C$8.18 and a 52 week high of C$16.51.

Lundin Mining (TSE:LUN) last released its earnings results on Wednesday, February 21st. The mining company reported C$0.14 EPS for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.01). The firm 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%.

Insiders Place Their Bets

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

Lundin Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Thursday, March 21st. Lundin Mining’s payout ratio is 85.71%.

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.