Raymond James Increases Lundin Mining (TSE:LUN) Price Target to C$15.00

Lundin Mining (TSE:LUN) had its target price hoisted by Raymond James from C$13.00 to C$15.00 in a research note released on Wednesday, BayStreet.CA reports. Raymond James also issued estimates for Lundin Mining’s Q1 2024 earnings at $0.11 EPS, Q2 2024 earnings at $0.12 EPS, Q2 2024 earnings at $0.21 EPS, Q3 2024 earnings at $0.30 EPS, Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.25 EPS, FY2024 earnings at $0.86 EPS and FY2024 earnings at $0.68 EPS.

A number of other equities analysts have also issued reports on LUN. BMO Capital Markets raised Lundin Mining from a market perform rating to an outperform rating and upped their target price for the company from C$12.00 to C$16.00 in a research report on Wednesday, March 27th. Canaccord Genuity Group upped their target price on Lundin Mining from C$11.00 to C$16.50 in a research report on Wednesday, April 17th. Pi Financial reaffirmed a buy rating on shares of Lundin Mining in a research report on Friday, March 1st. Eight Capital lowered Lundin Mining from a buy rating to a neutral rating and upped their target price for the company from C$13.00 to C$16.00 in a research report on Monday, April 22nd. Finally, Stifel Nicolaus set a C$14.50 target price on Lundin Mining and gave the company a buy rating in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Lundin Mining has an average rating of Hold and an average target price of C$14.93.

Lundin Mining Stock Up 4.0 %

TSE LUN opened at C$16.23 on Wednesday. The stock has a market cap of C$12.58 billion, a PE ratio of 38.64, a P/E/G ratio of -0.26 and a beta of 1.85. Lundin Mining has a fifty-two week low of C$8.18 and a fifty-two week high of C$16.51. The business has a 50 day moving average price of C$13.45 and a two-hundred day moving average price of C$11.20. 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 (TSE:LUN) last released its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.01). The company had revenue of C$1.44 billion during the quarter, compared to analysts’ expectations of C$1.39 billion. Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%. As a group, sell-side analysts predict that Lundin Mining will post 0.8396226 EPS for the current fiscal year.

Lundin Mining Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 22nd were paid 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 yield of 2.22%. Lundin Mining’s payout ratio is currently 85.71%.

Insider Buying and Selling

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. 15.70% of the stock is owned by company 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.