Raymond James Decreases Earnings Estimates for Lundin Mining

Lundin Mining Co. (TSE:LUN) – Equities research analysts at Raymond James decreased their Q3 2024 EPS estimates for Lundin Mining in a research note issued on Wednesday, October 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.23 per share for the quarter, down from their previous forecast of $0.29.

Lundin Mining (TSE:LUN) last issued its quarterly earnings data on Tuesday, July 30th. The mining company reported C$0.22 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.25 by C($0.03). Lundin Mining had a net margin of 4.21% and a return on equity of 5.04%. The firm had revenue of C$1.48 billion for the quarter, compared to analysts’ expectations of C$1.51 billion.

A number of other research analysts have also recently weighed in on LUN. Ventum Financial boosted their price objective on shares of Lundin Mining from C$18.50 to C$19.00 in a research report on Friday, October 18th. Royal Bank of Canada reduced their price objective on shares of Lundin Mining from C$20.00 to C$16.00 and set a “sector perform” rating on the stock in a research report on Tuesday, September 10th. Eight Capital boosted their target price on Lundin Mining from C$16.00 to C$17.50 in a research report on Thursday, July 11th. Haywood Securities raised Lundin Mining from a “hold” rating to a “buy” rating and set a C$17.00 target price on the stock in a research note on Tuesday, August 6th. Finally, CIBC raised their price target on Lundin Mining from C$16.00 to C$17.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$17.54.

Lundin Mining Price Performance

LUN stock opened at C$14.17 on Monday. Lundin Mining has a 52 week low of C$8.18 and a 52 week high of C$17.97. The firm has a market capitalization of C$11.01 billion, a P/E ratio of 50.61, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66. The company has a fifty day simple moving average of C$13.53 and a two-hundred day simple moving average of C$14.62. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 24.64.

Insider Buying and Selling at Lundin Mining

In related news, Director Jack Oliver Lundin bought 65,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of C$12.55 per share, for a total transaction of C$815,854.00. 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.