Q1 2024 EPS Estimates for Lundin Mining Co. Lowered by Raymond James (TSE:LUN)

Lundin Mining Co. (TSE:LUN) – Research analysts at Raymond James reduced their Q1 2024 earnings per share estimates for Lundin Mining in a report released on Wednesday, April 17th. Raymond James analyst F. Hamed now expects that the mining company will post earnings of $0.11 per share for the quarter, down from their previous forecast of $0.22. Raymond James has a “Market Perform” rating and a $13.00 price target on the stock. 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 Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.18 EPS and FY2024 earnings at $0.68 EPS.

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). The business had revenue of C$1.44 billion for the quarter, compared to the consensus estimate of C$1.39 billion. Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%.

Other research analysts have also recently issued reports about the company. Stifel Nicolaus set a C$14.50 price target on Lundin Mining and gave the company a “buy” rating in a report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft cut shares of Lundin Mining from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. CIBC lifted their price objective on Lundin Mining from C$12.00 to C$15.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. UBS Group upped their target price on shares of Lundin Mining from C$12.50 to C$18.25 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 price target for the company from C$13.00 to C$16.00 in a report on Monday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$14.81.

Lundin Mining Stock Down 0.3 %

LUN opened at C$15.79 on Monday. The firm has a market cap of C$12.24 billion, a price-to-earnings ratio of 37.60, a PEG ratio of -0.26 and a beta of 1.85. The firm’s 50-day simple moving average is C$13.10 and its 200-day simple moving average is C$11.04. The company has a debt-to-equity ratio of 23.15, a quick ratio of 0.90 and a current ratio of 1.48. Lundin Mining has a twelve month low of C$8.18 and a twelve month high of C$16.51.

Insider Transactions at Lundin Mining

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

Lundin Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.36 annualized dividend and a dividend yield of 2.28%. Lundin Mining’s dividend payout ratio (DPR) is presently 85.71%.

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.