Q2 2024 Earnings Estimate for Lundin Mining Co. Issued By Raymond James (TSE:LUN)

Lundin Mining Co. (TSE:LUN - Free Report) - Raymond James increased their Q2 2024 earnings per share estimates for shares of Lundin Mining in a note issued to investors on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the mining company will earn $0.21 per share for the quarter, up from their prior estimate of $0.12. The consensus estimate for Lundin Mining's current full-year earnings is $0.84 per share. Raymond James also issued estimates for Lundin Mining's Q4 2024 earnings at $0.25 EPS and FY2024 earnings at $0.86 EPS.

A number of other research firms have also recently weighed in on LUN. BMO Capital Markets raised shares of Lundin Mining from a "market perform" rating to an "outperform" rating and upped their price objective for the company from C$12.00 to C$16.00 in a research report on Wednesday, March 27th. Canaccord Genuity Group raised their price target on shares of Lundin Mining from C$11.00 to C$16.50 in a research note on Wednesday, April 17th. CIBC raised their price target on shares of Lundin Mining from C$12.00 to C$15.00 and gave the company a "neutral" rating in a research note on Wednesday, April 17th. Eight Capital lowered shares of Lundin Mining from a "buy" rating to a "neutral" rating and raised their price objective for the company from C$13.00 to C$16.00 in a research note on Monday. Finally, Stifel Nicolaus set a C$14.50 price objective on shares of Lundin Mining and gave the company a "buy" rating in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Lundin Mining has a consensus rating of "Hold" and an average price target of C$14.93.

Lundin Mining Trading Up 1.8 %

Shares of LUN stock traded up C$0.28 on Thursday, reaching C$15.60. 3,388,726 shares of the stock were exchanged, compared to its average volume of 2,305,382. Lundin Mining has a 1-year low of C$8.18 and a 1-year high of C$16.51. The stock has a market cap of C$12.09 billion, a P/E ratio of 37.14, a price-to-earnings-growth ratio of -0.26 and a beta of 1.85. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 23.15. The firm has a 50 day moving average of C$13.36 and a two-hundred day moving average of C$11.14.

Lundin Mining (TSE:LUN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share for the quarter, missing the consensus estimate of C$0.15 by C($0.01). The business had revenue of C$1.44 billion during the quarter, compared to analyst estimates of C$1.39 billion. Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%.

Insider Transactions at Lundin Mining

In other news, Senior Officer Annie Laurenson sold 5,200 shares of the company's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$13.30, for a total value of C$69,160.00. 15.70% of the stock is owned by insiders.

Lundin Mining Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Thursday, March 21st. Lundin Mining's payout ratio is 85.71%.

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.