FY2024 EPS Estimates for Lundin Mining Boosted by Analyst

Lundin Mining Co. (TSE:LUN) – Research analysts at Stifel Canada upped their FY2024 earnings per share (EPS) estimates for shares of Lundin Mining in a research note issued on Sunday, December 15th. Stifel Canada analyst C. Mcgill now forecasts that the mining company will earn $0.75 per share for the year, up from their prior forecast of $0.71. Stifel Canada also issued estimates for Lundin Mining’s FY2025 earnings at $0.91 EPS and FY2026 earnings at $0.60 EPS.

Lundin Mining (TSE:LUN) last issued its earnings results on Wednesday, November 6th. The mining company reported C$0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.12). Lundin Mining had a net margin of 4.21% and a return on equity of 5.04%. The business had revenue of C$1.46 billion for the quarter, compared to the consensus estimate of C$1.49 billion.

Several other equities analysts have also recently commented on the stock. Royal Bank of Canada reduced their price objective on shares of Lundin Mining from C$20.00 to C$16.00 and set a “sector perform” rating for the company in a research note on Tuesday, September 10th. Ventum Financial boosted their price target on shares of Lundin Mining from C$18.50 to C$19.00 in a research report on Friday, October 18th. Raymond James lowered their price objective on Lundin Mining from C$16.00 to C$15.00 in a research report on Tuesday, December 10th. UBS Group boosted their target price on Lundin Mining from C$16.00 to C$17.00 in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. raised Lundin Mining from a “neutral” rating to an “overweight” rating and lowered their price target for the company from C$18.20 to C$17.30 in a report on Tuesday, August 20th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Lundin Mining has a consensus rating of “Moderate Buy” and an average target price of C$17.72.

Lundin Mining Stock Down 1.9 %

Shares of TSE LUN opened at C$12.29 on Wednesday. The business has a 50-day simple moving average of C$13.91 and a two-hundred day simple moving average of C$14.06. Lundin Mining has a 52 week low of C$9.85 and a 52 week high of C$17.97. The company has a market cap of C$9.55 billion, a P/E ratio of 43.86, a P/E/G ratio of -0.26 and a beta of 1.66. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 24.64.

Lundin Mining Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Friday, November 29th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Friday, November 29th. Lundin Mining’s dividend payout ratio is presently 128.57%.

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.