Lundin Mining (TSE:LUN) Issues Quarterly Earnings Results

Lundin Mining (TSE:LUN) posted its quarterly earnings data on Wednesday. The mining company reported C$0.43 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$1.72 billion for the quarter. Lundin Mining had a net margin of 35.92% and a return on equity of 23.11%.

Lundin Mining Trading Up 2.8%

Lundin Mining stock traded up C$1.07 during trading on Wednesday, reaching C$38.77. 2,289,059 shares of the company were exchanged, compared to its average volume of 2,781,439. The stock’s 50 day simple moving average is C$36.45 and its two-hundred day simple moving average is C$36.50. The company has a market capitalization of C$33.10 billion, a P/E ratio of 23.22, a PEG ratio of -0.26 and a beta of 2.32. The company has a debt-to-equity ratio of 5.55, a current ratio of 1.81 and a quick ratio of 0.90. Lundin Mining has a 52-week low of C$13.93 and a 52-week high of C$45.74.

Analyst Ratings Changes

LUN has been the subject of a number of research analyst reports. Scotiabank increased their target price on Lundin Mining from C$36.00 to C$42.00 and gave the company a “sector outperform” rating in a report on Monday, June 15th. BMO Capital Markets lifted their price target on Lundin Mining from C$36.00 to C$45.00 in a research note on Wednesday, April 22nd. Morgan Stanley dropped their price target on Lundin Mining from C$39.70 to C$34.90 in a research report on Thursday, April 9th. Barclays increased their price objective on Lundin Mining from C$42.00 to C$43.00 in a research note on Thursday, July 16th. Finally, Dnb Carnegie raised shares of Lundin Mining to a “hold” rating in a research note on Friday, July 3rd. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$39.69.

About Lundin Mining

Lundin Mining Corp is a diversified Canadian base metals mining company with operations in Brazil Chile Portugal Sweden and the United States of America producing copper zinc gold and nickel. Its material mineral properties include Candelaria Chapada Eagle and Neves-Corvo.