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

Lundin Mining Co. (TSE:LUN) – Research analysts at Raymond James upped their Q3 2024 earnings per share (EPS) estimates for Lundin Mining in a report issued on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.30 per share for the quarter, up from their prior forecast of $0.25. The consensus estimate for Lundin Mining’s current full-year earnings is $0.84 per share.

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

Several other equities analysts have also recently weighed in on LUN. UBS Group boosted their price objective on Lundin Mining from C$12.50 to C$18.25 in a research report on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price objective 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. CIBC boosted their price objective on Lundin Mining from C$12.00 to C$15.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Bank of America boosted their price objective on Lundin Mining from C$12.50 to C$18.50 in a research report on Tuesday, April 9th. Finally, Pi Financial reissued a “buy” rating on shares of Lundin Mining in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$14.93.

Lundin Mining Price Performance

Shares of TSE:LUN opened at C$15.32 on Wednesday. Lundin Mining has a fifty-two week low of C$8.18 and a fifty-two week 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 stock has a market capitalization of C$11.88 billion, a P/E ratio of 36.48, a P/E/G ratio of -0.26 and a beta of 1.85. The business has a 50-day moving average of C$13.27 and a two-hundred day moving average of C$11.11.

Lundin Mining Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd were paid a $0.09 dividend. The ex-dividend date was Thursday, March 21st. This represents a $0.36 annualized dividend and a dividend yield of 2.35%. Lundin Mining’s dividend payout ratio is currently 85.71%.

Insider Activity

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

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.