Cormark Has Positive Estimate for Lundin Mining Q4 Earnings

Lundin Mining Co. (TSE:LUN) – Equities research analysts at Cormark increased their Q4 2024 earnings estimates for shares of Lundin Mining in a report released on Tuesday, November 12th. Cormark analyst S. Ioannou now forecasts that the mining company will post earnings of $0.57 per share for the quarter, up from their prior estimate of $0.42.

Lundin Mining (TSE:LUN) last issued its quarterly earnings results on Wednesday, November 6th. The mining company reported C$0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.12). The business had revenue of C$1.46 billion for the quarter, compared to analysts’ expectations of C$1.49 billion. Lundin Mining had a net margin of 4.21% and a return on equity of 5.04%.

Other research analysts have also recently issued research reports about the company. Scotiabank upgraded Lundin Mining from a “sector perform” rating to an “outperform” rating and lowered their price objective for the company from C$18.00 to C$16.00 in a research note on Monday, August 19th. CIBC upped their price target on shares of 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. JPMorgan Chase & Co. upgraded shares of Lundin Mining from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from C$18.20 to C$17.30 in a research note on Tuesday, August 20th. Canaccord Genuity Group dropped their target price on shares of Lundin Mining from C$17.50 to C$16.50 in a research note on Monday, July 22nd. Finally, Royal Bank of Canada reduced their price target on shares of Lundin Mining from C$20.00 to C$16.00 and set a “sector perform” rating for the company in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$17.98.

Lundin Mining Price Performance

LUN stock opened at C$13.57 on Friday. The company has a debt-to-equity ratio of 24.64, a quick ratio of 0.90 and a current ratio of 1.49. The firm has a 50 day moving average price of C$13.64 and a 200-day moving average price of C$14.44. Lundin Mining has a 52-week low of C$8.84 and a 52-week high of C$17.97. The firm has a market capitalization of C$10.54 billion, a price-to-earnings ratio of 48.46, a PEG ratio of -0.26 and a beta of 1.66.

Insider Buying and Selling

In related news, Director Jack Oliver Lundin bought 65,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of C$12.55 per share, with a total value of C$815,854.00. 15.70% of the stock is currently owned by insiders.

Lundin Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, November 29th. Lundin Mining’s payout ratio is 128.57%.

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.