Brokers Offer Predictions for Lundin Mining Co.’s Q2 2024 Earnings (TSE:LUN)

Lundin Mining Co. (TSE:LUN) – Analysts at National Bank Financial increased their Q2 2024 earnings estimates for shares of Lundin Mining in a note issued to investors on Thursday, May 2nd. National Bank Financial analyst S. Nagle now forecasts that the mining company will post earnings of $0.21 per share for the quarter, up from their previous forecast of $0.16. The consensus estimate for Lundin Mining’s current full-year earnings is $0.84 per share. National Bank Financial also issued estimates for Lundin Mining’s Q3 2024 earnings at $0.23 EPS, FY2024 earnings at $0.75 EPS and FY2025 earnings at $0.60 EPS.

A number of other brokerages have also recently issued reports on LUN. Eight Capital cut 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, April 22nd. Bank of America lifted their price objective on Lundin Mining from C$12.50 to C$18.50 in a research note on Tuesday, April 9th. CIBC increased their target price on 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. Jefferies Financial Group boosted their target price on Lundin Mining from C$18.00 to C$20.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Stifel Nicolaus set a C$14.50 price target on shares of Lundin Mining and gave the company a “buy” rating in a research report on Tuesday, March 26th. One 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, the stock has an average rating of “Hold” and an average target price of C$15.23.

Lundin Mining Stock Up 0.8 %

Shares of TSE LUN opened at C$15.15 on Monday. 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 market capitalization of C$11.74 billion, a PE ratio of 36.07, a price-to-earnings-growth ratio of -0.26 and a beta of 1.85. The firm’s 50-day moving average is C$13.89 and its 200-day moving average is C$11.43. Lundin Mining has a 1 year low of C$8.18 and a 1 year high of C$16.51.

Lundin Mining (TSE:LUN) last posted its quarterly earnings results on Wednesday, May 1st. The mining company reported C$0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.10 by C($0.02). The firm had revenue of C$1.26 billion during the quarter, compared to the consensus estimate of C$1.27 billion. Lundin Mining had a net margin of 7.12% and a return on equity of 5.32%.

Insider Buying and Selling

In related news, Senior Officer Annie Laurenson sold 5,200 shares of the 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 transaction of C$69,160.00. 15.70% of the stock is owned by corporate insiders.

Lundin Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Friday, May 31st will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, May 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.38%. Lundin Mining’s payout ratio is presently 85.71%.

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.