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

Lundin Mining (TSE:LUN) had its target price increased by Raymond James from C$13.00 to C$15.00 in a research note issued to investors on Wednesday morning, 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.

A number of other analysts have also weighed in on LUN. Bank of America upped their price objective on shares of Lundin Mining from C$12.50 to C$18.50 in a research note on Tuesday, April 9th. BMO Capital Markets raised shares of Lundin Mining from a market perform rating to an outperform rating and increased their price target for the company from C$12.00 to C$16.00 in a research report on Wednesday, March 27th. Stifel Nicolaus set a C$14.50 price objective on shares of Lundin Mining and gave the company a buy rating in a report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Lundin Mining from a buy rating to a hold rating in a report on Tuesday, April 9th. Finally, Eight Capital downgraded shares of Lundin Mining from a buy rating to a neutral rating and upped their price objective for the company from C$13.00 to C$16.00 in a report on Monday. One investment 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 stock currently has an average rating of Hold and an average price target of C$14.93.

Lundin Mining Stock Up 0.5 %

Shares of LUN opened at C$15.32 on Wednesday. The firm 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. Lundin Mining has a 12-month low of C$8.18 and a 12-month high of C$16.51. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 23.15. The firm has a fifty day moving average price of C$13.27 and a 200-day moving average price of C$11.11.

Lundin Mining (TSE:LUN) last issued its earnings results 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). The company had revenue of C$1.44 billion for the quarter, compared to analysts’ expectations of C$1.39 billion. Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%. Equities research analysts expect that Lundin Mining will post 0.8396226 earnings per share for the current year.

Lundin Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were issued a $0.09 dividend. 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 payout ratio is currently 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 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. 15.70% of the stock is currently 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.