Raymond James Comments on Lundin Mining Co.’s Q3 2024 Earnings (TSE:LUN)

Lundin Mining Co. (TSE:LUN) – Research analysts at Raymond James boosted their Q3 2024 earnings per share estimates for shares of Lundin Mining in a report released on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.30 per share for the quarter, up from their previous forecast of $0.25. The consensus estimate for Lundin Mining’s current full-year earnings is $0.84 per share.

Several other brokerages have also recently weighed in on LUN. UBS Group boosted their target price on Lundin Mining from C$12.50 to C$18.25 in a report on Tuesday, April 9th. Jefferies Financial Group upped their price objective on Lundin Mining from C$18.00 to C$20.00 and gave the company a “buy” rating in a report on Friday, April 12th. Canaccord Genuity Group upped their price objective on Lundin Mining from C$11.00 to C$16.50 in a report on Wednesday, April 17th. CIBC upped their price objective on Lundin Mining from C$12.00 to C$15.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Finally, National Bankshares decreased their price objective on Lundin Mining from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a report on Monday, January 15th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$14.93.

Lundin Mining Trading Up 0.5 %

Shares of Lundin Mining stock opened at C$15.32 on Wednesday. The stock has a market cap of C$11.88 billion, a P/E ratio of 36.48, a P/E/G ratio of -0.26 and a beta of 1.85. The stock’s 50 day simple moving average is C$13.27 and its 200-day simple moving average is C$11.11. Lundin Mining has a 1-year low of C$8.18 and a 1-year high of C$16.51. 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 (TSE:LUN) last issued its earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share 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 analyst estimates of C$1.39 billion. Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%.

Insider Activity at Lundin Mining

In related news, Senior Officer Annie Laurenson sold 5,200 shares of the stock in a transaction 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. 15.70% of the stock is currently owned by corporate insiders.

Lundin Mining Announces Dividend

The firm 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 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, March 21st. 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.