Lundin Mining Co. (TSE:LUN) Forecasted to Earn Q1 2024 Earnings of $0.30 Per Share

Lundin Mining Co. (TSE:LUN) – Cormark lowered their Q1 2024 EPS estimates for shares of Lundin Mining in a note issued to investors on Tuesday, November 7th. Cormark analyst S. Ioannou now forecasts that the mining company will post earnings per share of $0.30 for the quarter, down from their previous forecast of $0.31. The consensus estimate for Lundin Mining’s current full-year earnings is $1.06 per share. Cormark also issued estimates for Lundin Mining’s Q2 2024 earnings at $0.30 EPS, Q3 2024 earnings at $0.30 EPS and Q4 2024 earnings at $0.30 EPS.

Other research analysts also recently issued research reports about the stock. CSFB dropped their price target on shares of Lundin Mining from C$12.00 to C$11.00 and set a “neutral” rating on the stock in a research report on Monday, August 21st. CIBC boosted their price target on shares of Lundin Mining from C$21.00 to C$22.00 in a research note on Friday, July 14th. BMO Capital Markets boosted their price target on shares of Lundin Mining from C$10.50 to C$11.00 in a research note on Friday, July 14th. Canaccord Genuity Group reduced their target price on shares of Lundin Mining from C$13.00 to C$11.50 and set a “buy” rating for the company in a research note on Friday, October 20th. Finally, National Bankshares cut their price target on shares of Lundin Mining from C$11.50 to C$11.25 and set a “sector perform” rating on the stock in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$12.03.

Lundin Mining Stock Down 3.6 %

TSE:LUN opened at C$8.21 on Thursday. The firm’s 50 day simple moving average is C$9.57 and its 200 day simple moving average is C$10.25. The company has a debt-to-equity ratio of 23.60, a current ratio of 1.35 and a quick ratio of 0.90. Lundin Mining has a one year low of C$7.35 and a one year high of C$11.93. The company has a market cap of C$6.35 billion, a PE ratio of 13.24, a P/E/G ratio of -0.26 and a beta of 1.74.

Lundin Mining Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Friday, December 1st will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend is Thursday, November 30th. Lundin Mining’s payout ratio is currently 58.06%.

About Lundin Mining

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Brazil, Chile, Portugal, Sweden, and the United States. It primarily produces copper, zinc, nickel, and gold, as well as lead, silver, and other metals. The company holds 100% interests in the Chapada mine located in Brazil; the Neves-Corvo mine located in Portugal; the Eagle mine located in the United States; and the Zinkgruvan mine located in Sweden.