Lundin Mining (TSE:LUN) Issues Earnings Results

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

Lundin Mining Stock Performance

TSE LUN opened at C$15.15 on Friday. 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. The firm has a market cap of C$11.74 billion, a price-to-earnings ratio of 36.07, a PEG ratio of -0.26 and a beta of 1.85. The company has a fifty day moving average price of C$13.89 and a 200-day moving average price of C$11.40.

Lundin Mining Announces Dividend

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

Insider Transactions at Lundin Mining

In other news, Senior Officer Annie Laurenson sold 5,200 shares of the company’s stock in a transaction 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.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Lundin Mining from C$16.30 to C$16.40 in a report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft lowered shares of Lundin Mining from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. 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. National Bankshares dropped their price target on shares of Lundin Mining from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a research report on Monday, January 15th. Finally, Canaccord Genuity Group boosted their price target on shares of Lundin Mining from C$11.00 to C$16.50 in a research report on Wednesday, April 17th. One equities 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 company’s stock. According to data from MarketBeat.com, Lundin Mining has an average rating of “Hold” and a consensus target price of C$15.23.

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.