FY2024 EPS Estimates for Lundin Mining Reduced by Scotiabank

Lundin Mining Co. (TSE:LUN) – Analysts at Scotiabank dropped their FY2024 earnings estimates for Lundin Mining in a report released on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now anticipates that the mining company will earn $0.73 per share for the year, down from their prior forecast of $0.97.

Other equities research analysts have also issued reports about the stock. UBS Group lowered their target price on shares of Lundin Mining from C$17.00 to C$15.50 in a research note on Tuesday. Jefferies Financial Group lowered their price target on Lundin Mining from C$20.00 to C$16.00 in a research report on Monday, January 6th. Raymond James dropped their price objective on Lundin Mining from C$16.00 to C$15.00 in a report on Tuesday, December 10th. Finally, Ventum Financial upped their target price on Lundin Mining from C$18.50 to C$19.00 in a research note on Friday, October 18th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$17.38.

Lundin Mining Stock Down 4.0 %

LUN stock opened at C$12.42 on Friday. Lundin Mining has a one year low of C$9.85 and a one year high of C$17.97. 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’s fifty day moving average is C$13.21 and its 200 day moving average is C$13.67. The firm has a market cap of C$9.65 billion, a PE ratio of 44.36, a P/E/G ratio of -0.26 and a beta of 1.66.

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

Lundin Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were issued a $0.09 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.36 dividend on an annualized basis and a yield of 2.90%. Lundin Mining’s payout ratio is 128.57%.

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.