Raymond James Comments on Lundin Mining Co.'s Q3 2024 Earnings (TSE:LUN)

Lundin Mining Co. (TSE:LUN - Free Report) - Stock analysts at Raymond James lifted their Q3 2024 earnings per share (EPS) estimates for shares of Lundin Mining in a research report issued to clients and investors on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings of $0.30 per share for the quarter, up from their previous forecast of $0.25. The consensus estimate for Lundin Mining's current full-year earnings is $0.84 per share.

Lundin Mining (TSE:LUN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The mining company reported C$0.14 earnings per share (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 during the quarter, compared to the consensus estimate of C$1.39 billion.

A number of other brokerages have also recently commented on LUN. JPMorgan Chase & Co. raised their price target on Lundin Mining from C$9.10 to C$15.50 and gave the stock a "neutral" rating in a research report on Wednesday, April 17th. Eight Capital cut shares of Lundin Mining from a "buy" rating to a "neutral" rating and boosted their target price for the company from C$13.00 to C$16.00 in a research report on Monday. Stifel Nicolaus set a C$14.50 price target on shares of Lundin Mining and gave the stock a "buy" rating in a research report on Tuesday, March 26th. UBS Group lifted their price objective on shares of Lundin Mining from C$12.50 to C$18.25 in a research note on Tuesday, April 9th. Finally, Morgan Stanley upped their target price on Lundin Mining from C$16.30 to C$16.40 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Lundin Mining currently has a consensus rating of "Hold" and an average price target of C$14.93.

Lundin Mining Price Performance

TSE:LUN traded up C$0.07 during trading hours on Wednesday, reaching C$15.32. 1,558,636 shares of the company were exchanged, compared to its average volume of 2,291,810. The business has a 50 day moving average of C$13.18 and a 200 day moving average of C$11.08. Lundin Mining has a 1-year low of C$8.18 and a 1-year high of C$16.51. The company has a debt-to-equity ratio of 23.15, a current ratio of 1.48 and a quick ratio of 0.90. The company has a market capitalization of C$11.88 billion, a P/E ratio of 36.31, a P/E/G ratio of -0.26 and a beta of 1.85.

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. This represents a $0.36 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, March 21st. Lundin Mining's payout ratio is presently 85.71%.

Insider Buying and Selling at Lundin Mining

In other Lundin Mining news, Senior Officer Annie Laurenson sold 5,200 shares of the firm's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$13.30, for a total transaction of C$69,160.00. Corporate insiders own 15.70% of the company's stock.

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.