Cormark Weighs in on Lundin Mining Co.’s Q3 2024 Earnings (TSE:LUN)

Lundin Mining Co. (TSE:LUN) – Stock analysts at Cormark boosted their Q3 2024 earnings per share (EPS) estimates for Lundin Mining in a research report issued to clients and investors on Monday, May 6th. Cormark analyst S. Ioannou now forecasts that the mining company will earn $0.40 per share for the quarter, up from their prior forecast of $0.30. The consensus estimate for Lundin Mining’s current full-year earnings is $0.84 per share. Cormark also issued estimates for Lundin Mining’s FY2026 earnings at $1.48 EPS.

Other research analysts have also issued research reports about the company. Jefferies Financial Group increased 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. Royal Bank of Canada boosted their target price on shares of Lundin Mining from C$13.00 to C$17.00 and gave the company a “sector perform” rating in a report on Friday, May 3rd. National Bankshares reduced their target price on shares of Lundin Mining from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a research report on Monday, January 15th. Morgan Stanley lifted their price target on shares of Lundin Mining from C$16.40 to C$20.00 in a research report on Wednesday. Finally, Bank of America upped their price objective on shares of Lundin Mining from C$12.50 to C$18.50 in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$15.43.

Lundin Mining Price Performance

Shares of TSE LUN opened at C$15.85 on Wednesday. The company has a debt-to-equity ratio of 23.15, a current ratio of 1.48 and a quick ratio of 0.90. Lundin Mining has a 1 year low of C$8.18 and a 1 year high of C$16.51. The company’s 50-day moving average is C$14.20 and its 200 day moving average is C$11.56. The stock has a market capitalization of C$12.29 billion, a P/E ratio of 37.74, a P/E/G ratio of -0.26 and a beta of 1.85.

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

Lundin Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Friday, May 31st will be paid a $0.09 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.36 annualized dividend and a dividend yield of 2.27%. Lundin Mining’s dividend payout ratio (DPR) is 85.71%.

Insider Buying and Selling

In other Lundin Mining news, Senior Officer Annie Laurenson sold 5,200 shares of Lundin Mining stock in a transaction that occurred on Wednesday, March 20th. The shares were 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.

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.