Cormark Comments on Lundin Mining Co.’s FY2021 Earnings (TSE:LUN)

Lundin Mining Co. (TSE:LUN) – Research analysts at Cormark boosted their FY2021 earnings per share (EPS) estimates for shares of Lundin Mining in a note issued to investors on Wednesday, November 24th. Cormark analyst S. Ioannou now anticipates that the mining company will post earnings of $1.21 per share for the year, up from their prior forecast of $1.20.

LUN has been the subject of a number of other research reports. TD Securities cut their target price on shares of Lundin Mining from C$13.00 to C$12.50 and set a “buy” rating for the company in a research note on Wednesday. Royal Bank of Canada dropped their price objective on shares of Lundin Mining from C$13.00 to C$12.00 and set a “sector perform” rating for the company in a research note on Wednesday. Bank of America dropped their price objective on shares of Lundin Mining from C$15.30 to C$9.00 and set an “underperform” rating for the company in a research note on Wednesday, September 22nd. Canaccord Genuity cut shares of Lundin Mining to a “hold” rating and set a C$10.50 price objective for the company. in a research note on Tuesday. Finally, UBS Group dropped their price objective on shares of Lundin Mining from C$14.00 to C$9.50 and set a “neutral” rating for the company in a research note on Tuesday, October 5th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lundin Mining currently has an average rating of “Hold” and an average target price of C$12.86.

TSE LUN opened at C$10.45 on Thursday. The firm has a 50-day moving average of C$10.08 and a 200-day moving average of C$11.06. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.43 and a current ratio of 1.86. The stock has a market cap of C$7.68 billion and a PE ratio of 9.13. Lundin Mining has a 52-week low of C$8.56 and a 52-week high of C$16.07.

Lundin Mining (TSE:LUN) last posted its earnings results on Wednesday, October 27th. The mining company reported C$0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.31 by C($0.02). The firm had revenue of C$952.44 million for the quarter.

In other Lundin Mining news, Senior Officer Marie Inkster sold 53,686 shares of the business’s stock in a transaction on Tuesday, October 26th. The shares were sold at an average price of C$10.12, for a total transaction of C$543,184.21. Following the completion of the sale, the insider now owns 501,057 shares in the company, valued at approximately C$5,069,594.51. Also, Director Catherine Jean Garrett Stefan purchased 5,600 shares of the firm’s stock in a transaction on Friday, September 17th. The shares were acquired at an average price of C$8.91 per share, with a total value of C$49,896.00. Following the purchase, the director now directly owns 62,000 shares in the company, valued at approximately C$552,420.

Lundin Mining Company Profile

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Brazil, Chile, Portugal, Sweden, and the United States. It primarily produces copper, zinc, nickel, and gold, as well as lead, silver, and other metals. The company holds 100% interests in the Chapada mine located in Brazil; the Eagle mine located in the United States; the Neves-Corvo mine located in Portugal; and the Zinkgruvan mine located in Sweden.

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Earnings History and Estimates for Lundin Mining (TSE:LUN)

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