Brokers Offer Predictions for Lundin Mining Co.’s FY2024 Earnings (TSE:LUN)

Lundin Mining Co. (TSE:LUN) – Equities researchers at Cormark boosted their FY2024 earnings estimates for shares of Lundin Mining in a note issued to investors on Monday, April 29th. Cormark analyst S. Ioannou now expects that the mining company will post earnings per share of $1.38 for the year, up from their previous forecast of $1.03. The consensus estimate for Lundin Mining’s current full-year earnings is $0.84 per share. Cormark also issued estimates for Lundin Mining’s FY2025 earnings at $1.32 EPS.

Lundin Mining (TSE:LUN) last posted its quarterly earnings data on Wednesday, May 1st. The mining company reported C$0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.10 by C($0.02). Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. The business had revenue of C$1.26 billion during the quarter, compared to analyst estimates of C$1.27 billion.

A number of other analysts also recently issued reports on LUN. Morgan Stanley lifted their price objective on shares of Lundin Mining from C$16.30 to C$16.40 in a report on Tuesday, April 23rd. Canaccord Genuity Group boosted their target price on shares of Lundin Mining from C$11.00 to C$16.50 in a report on Wednesday, April 17th. CIBC boosted their target price on shares of Lundin Mining from C$12.00 to C$15.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. boosted their target price on shares of Lundin Mining from C$9.10 to C$15.50 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Finally, Stifel Nicolaus set a C$14.50 target price on shares of Lundin Mining and gave the stock a “buy” rating in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Lundin Mining has a consensus rating of “Hold” and a consensus price target of C$15.23.

Lundin Mining Price Performance

TSE LUN opened at C$15.15 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 23.15. Lundin Mining has a 12-month low of C$8.18 and a 12-month high of C$16.51. The company has a market capitalization of C$11.74 billion, a PE ratio of 36.07, a price-to-earnings-growth ratio of -0.26 and a beta of 1.85. The firm’s 50 day moving average is C$13.89 and its 200-day moving average is C$11.40.

Insider Transactions at Lundin Mining

In related news, Senior Officer Annie Laurenson sold 5,200 shares of Lundin Mining 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 value of C$69,160.00. Company insiders own 15.70% of the company’s stock.

Lundin Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Friday, May 31st will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, May 31st. Lundin Mining’s payout ratio is 85.71%.

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.