Lundin Mining Co. (TSE:LUN) Expected to Earn Q2 2024 Earnings of $0.21 Per Share

Lundin Mining Co. (TSE:LUN) – Research analysts at Raymond James lifted their Q2 2024 earnings estimates for Lundin Mining in a report issued on Monday, April 22nd. Raymond James analyst F. Hamed now expects that the mining company will post earnings per share of $0.21 for the quarter, up from their prior forecast of $0.12. 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 Q4 2024 earnings at $0.25 EPS and FY2024 earnings at $0.86 EPS.

Lundin Mining (TSE:LUN) last posted its quarterly earnings data 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 firm 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%.

Other analysts have also issued research reports about the stock. Canaccord Genuity Group raised their price target on shares of Lundin Mining from C$11.00 to C$16.50 in a report on Wednesday, April 17th. BMO Capital Markets raised shares of Lundin Mining from a “market perform” rating to an “outperform” rating and raised their price target for the company from C$12.00 to C$16.00 in a report on Wednesday, March 27th. Morgan Stanley raised their price target on shares of Lundin Mining from C$16.30 to C$16.40 in a report on Tuesday. Bank of America raised their price target on shares of Lundin Mining from C$12.50 to C$18.50 in a report on Tuesday, April 9th. Finally, Eight Capital lowered shares of Lundin Mining from a “buy” rating to a “neutral” rating and lifted their target price for the stock from C$13.00 to C$16.00 in a report on Monday. 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$14.93.

Lundin Mining Stock Performance

TSE LUN opened at C$15.32 on Thursday. The firm has a market cap of C$11.88 billion, a price-to-earnings ratio of 36.48, a PEG ratio of -0.26 and a beta of 1.85. The company has a 50 day moving average of C$13.27 and a 200-day moving average of C$11.11. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 23.15. Lundin Mining has a 1-year low of C$8.18 and a 1-year high of C$16.51.

Lundin Mining Dividend Announcement

The company also recently declared 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 was Thursday, March 21st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.35%. Lundin Mining’s dividend payout ratio is 85.71%.

Insider Activity at Lundin Mining

In related news, Senior Officer Annie Laurenson sold 5,200 shares of the business’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. 15.70% of the stock is currently owned by insiders.

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.