Lundin Mining Co. (TSE:LUN) Expected to Earn Q2 2024 Earnings of $0.21 Per Share

Lundin Mining Co. (TSE:LUN) – Raymond James upped their Q2 2024 earnings per share (EPS) estimates for shares of Lundin Mining in a research note issued to investors on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the mining company will earn $0.21 per share for the quarter, up from their prior forecast 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.

Other analysts also recently issued reports about the company. Eight Capital downgraded Lundin Mining from a “buy” rating to a “neutral” rating and upped their price objective for the company from C$13.00 to C$16.00 in a research note on Monday. Pi Financial reissued a “buy” rating on shares of Lundin Mining in a research note on Friday, March 1st. UBS Group increased their target price on Lundin Mining from C$12.50 to C$18.25 in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft downgraded Lundin Mining from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Finally, National Bankshares dropped their price objective on Lundin Mining from C$13.00 to C$12.50 and set an “outperform” rating for the company in a research note on Monday, January 15th. One equities 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$14.93.

Lundin Mining Stock Up 0.5 %

LUN opened at C$15.32 on Thursday. The business has a 50 day moving average price of C$13.27 and a two-hundred day moving average price of C$11.11. 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 company has a market cap of C$11.88 billion, a PE ratio of 36.48, a P/E/G ratio of -0.26 and a beta of 1.85. 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 posted its quarterly earnings data on Wednesday, February 21st. The mining company reported C$0.14 EPS for the quarter, missing the consensus estimate of C$0.15 by C($0.01). The company had revenue of C$1.44 billion for 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%.

Lundin Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Thursday, March 21st. Lundin Mining’s dividend payout ratio (DPR) is 85.71%.

Insider Transactions at Lundin Mining

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.

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.