Equities Analysts Set Expectations for Lundin Mining Co.’s FY2024 Earnings (TSE:LUN)

Lundin Mining Co. (TSE:LUN) – Investment analysts at Cormark lifted their FY2024 earnings per share estimates for Lundin Mining in a research report issued to clients and investors on Monday, April 29th. Cormark analyst S. Ioannou now forecasts that the mining company will post earnings of $1.38 per share for the year, up from their previous forecast of $1.03. The consensus estimate for Lundin Mining’s current full-year earnings is $0.84 per share. Cormark also issued estimates for Lundin Mining’s FY2025 earnings at $1.32 EPS.

Lundin Mining (TSE:LUN) last announced its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 EPS for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.01). Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. The business had revenue of C$1.44 billion for the quarter, compared to analysts’ expectations of C$1.39 billion.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. upped their price target on Lundin Mining from C$9.10 to C$15.50 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft cut shares of Lundin Mining from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Stifel Nicolaus set a C$14.50 target price on shares of Lundin Mining and gave the stock a “buy” rating in a research report on Tuesday, March 26th. BMO Capital Markets upgraded Lundin Mining from a “market perform” rating to an “outperform” rating and raised their price target for the stock from C$12.00 to C$16.00 in a research note on Wednesday, March 27th. Finally, Bank of America increased their target price on Lundin Mining from C$12.50 to C$18.50 in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$14.93.

Lundin Mining Stock Performance

TSE:LUN opened at C$15.35 on Thursday. Lundin Mining has a 52-week low of C$8.18 and a 52-week high of C$16.51. The business’s fifty day moving average is C$13.72 and its 200 day moving average is C$11.33. The company has a debt-to-equity ratio of 23.15, a quick ratio of 0.90 and a current ratio of 1.48. The firm has a market cap of C$11.90 billion, a price-to-earnings ratio of 36.55, a PEG ratio of -0.26 and a beta of 1.85.

Insider Activity

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

Lundin Mining Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were issued 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 2.35%. 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.