Brokers Offer Predictions for Lundin Mining Co.’s Q2 2024 Earnings (TSE:LUN)

Lundin Mining Co. (TSE:LUN) – Stock analysts at National Bank Financial lifted their Q2 2024 earnings per share (EPS) estimates for shares of Lundin Mining in a research report issued to clients and investors on Thursday, May 2nd. National Bank Financial analyst S. Nagle now expects that the mining company will post earnings of $0.21 per share for the quarter, up from their previous forecast of $0.16. The consensus estimate for Lundin Mining’s current full-year earnings is $0.84 per share. National Bank Financial also issued estimates for Lundin Mining’s Q3 2024 earnings at $0.23 EPS, FY2024 earnings at $0.75 EPS and FY2025 earnings at $0.60 EPS.

Several other equities analysts have also commented on LUN. BMO Capital Markets reduced their price target on Lundin Mining from C$17.00 to C$16.50 in a research report on Thursday. CIBC boosted their price target on Lundin Mining from C$12.00 to C$15.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Bank of America boosted their price target on Lundin Mining from C$12.50 to C$18.50 in a research report on Tuesday, April 9th. Jefferies Financial Group boosted their price target on Lundin Mining from C$18.00 to C$20.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, UBS Group upped their target price on Lundin Mining from C$12.50 to C$18.25 in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$15.23.

Lundin Mining Stock Up 0.8 %

Shares of TSE:LUN opened at C$15.15 on Monday. 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 1 year low of C$8.18 and a 1 year high of C$16.51. The stock has a market capitalization of C$11.74 billion, a P/E ratio of 36.07, a PEG ratio of -0.26 and a beta of 1.85. The stock has a 50-day simple moving average of C$13.89 and a 200-day simple moving average of C$11.43.

Lundin Mining (TSE:LUN) last issued its earnings results 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 return on equity of 5.32% and a net margin of 7.12%. The firm had revenue of C$1.26 billion for the quarter, compared to analysts’ expectations of C$1.27 billion.

Insider Activity at Lundin Mining

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

Lundin Mining Dividend Announcement

The company 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 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Friday, May 31st. Lundin Mining’s dividend payout ratio is currently 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.