Raymond James Raises Lundin Mining (TSE:LUN) Price Target to C$15.00

Lundin Mining (TSE:LUN) had its price objective raised by Raymond James from C$13.00 to C$15.00 in a report published on Wednesday morning, BayStreet.CA reports. Raymond James also issued estimates for Lundin Mining’s Q1 2024 earnings at $0.11 EPS, Q2 2024 earnings at $0.12 EPS, Q2 2024 earnings at $0.21 EPS, Q3 2024 earnings at $0.30 EPS, Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.25 EPS, FY2024 earnings at $0.86 EPS and FY2024 earnings at $0.68 EPS.

A number of other equities analysts have also issued reports on LUN. Pi Financial reissued a buy rating on shares of Lundin Mining in a report on Friday, March 1st. Bank of America raised their price target on shares of Lundin Mining from C$12.50 to C$18.50 in a research note on Tuesday, April 9th. UBS Group lifted their target price on shares of Lundin Mining from C$12.50 to C$18.25 in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lowered shares of Lundin Mining from a buy rating to a hold rating in a research note on Tuesday, April 9th. Finally, Eight Capital cut shares of Lundin Mining from a buy rating to a neutral rating and upped their target price for the company from C$13.00 to C$16.00 in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of C$14.93.

Lundin Mining Stock Up 4.0 %

Lundin Mining stock opened at C$16.23 on Wednesday. The business has a 50 day simple moving average of C$13.45 and a 200-day simple moving average of C$11.19. The stock has a market capitalization of C$12.58 billion, a PE ratio of 38.64, a price-to-earnings-growth ratio of -0.26 and a beta of 1.85. The company has a debt-to-equity ratio of 23.15, a current ratio of 1.48 and a quick ratio of 0.90. Lundin Mining has a 12 month low of C$8.18 and a 12 month high of C$16.51.

Lundin Mining (TSE:LUN) last released its quarterly earnings data 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). Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. The business had revenue of C$1.44 billion during the quarter, compared to analysts’ expectations of C$1.39 billion. On average, analysts anticipate that Lundin Mining will post 0.8396226 EPS for the current fiscal year.

Lundin Mining Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors 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 2.22%. The ex-dividend date of this dividend was Thursday, March 21st. Lundin Mining’s payout ratio is 85.71%.

Insiders Place Their Bets

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 value of C$69,160.00. Insiders own 15.70% of the company’s stock.

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.