Raymond James Increases Lundin Mining (TSE:LUN) Price Target to C$15.00

Lundin Mining (TSE:LUN - Free Report) had its price target boosted by Raymond James from C$13.00 to C$15.00 in a research note released on Wednesday, BayStreet.CA reports. Raymond James also issued estimates for Lundin Mining's Q1 2024 earnings at $0.11 EPS, Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.25 EPS, Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.18 EPS and FY2024 earnings at $0.68 EPS.

Several other analysts have also recently weighed in on LUN. Deutsche Bank Aktiengesellschaft cut Lundin Mining from a buy rating to a hold rating in a report on Tuesday, April 9th. BMO Capital Markets raised Lundin Mining from a market perform rating to an outperform rating and lifted their price target for the stock from C$12.00 to C$16.00 in a report on Wednesday, March 27th. Morgan Stanley lifted their price target on Lundin Mining from C$16.30 to C$16.40 in a report on Tuesday. Stifel Nicolaus set a C$14.50 price target on Lundin Mining and gave the stock a buy rating in a report on Tuesday, March 26th. Finally, Bank of America lifted their price objective on Lundin Mining from C$12.50 to C$18.50 in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of C$14.93.

Lundin Mining Stock Performance

Shares of LUN traded up C$0.07 during mid-day trading on Wednesday, reaching C$15.32. The company's stock had a trading volume of 1,558,636 shares, compared to its average volume of 2,291,810. 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$11.88 billion, a P/E ratio of 36.31, a PEG ratio of -0.26 and a beta of 1.85. The business has a 50-day simple moving average of C$13.18 and a two-hundred day simple moving average of C$11.08. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 23.15.

Lundin Mining (TSE:LUN - Get Free Report) last released 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 firm had revenue of C$1.44 billion for the quarter, compared to analyst estimates of C$1.39 billion. Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%. As a group, equities research analysts anticipate that Lundin Mining will post 0.8396226 earnings per share for the current fiscal year.

Lundin Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders 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 dividend yield of 2.35%. Lundin Mining's dividend payout ratio (DPR) is currently 85.71%.

Insider Transactions at Lundin Mining

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

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.