FY2024 Earnings Forecast for Lundin Mining Co. (TSE:LUN) Issued By Cormark

Lundin Mining Co. (TSE:LUN) – Stock analysts at Cormark lifted their FY2024 earnings estimates for shares of Lundin Mining in a research note issued to investors on Monday, April 29th. Cormark analyst S. Ioannou now anticipates that the mining company will post earnings of $1.38 per share for the year, up from their previous estimate of $1.03. The consensus estimate for Lundin Mining’s current full-year earnings is $0.84 per share. Cormark also issued estimates for Lundin Mining’s FY2025 earnings at $1.32 EPS.

A number of other research firms also recently weighed in on LUN. Canaccord Genuity Group lifted their price target on Lundin Mining from C$11.00 to C$16.50 in a research note on Wednesday, April 17th. CIBC upped their target price on shares of Lundin Mining from C$12.00 to C$15.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. National Bankshares reduced their price target on shares of Lundin Mining from C$13.00 to C$12.50 and set an “outperform” rating for the company in a research report on Monday, January 15th. Eight Capital cut Lundin Mining from a “buy” rating to a “neutral” rating and upped their price target for the stock from C$13.00 to C$16.00 in a report on Monday, April 22nd. Finally, BMO Capital Markets upgraded Lundin Mining from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from C$12.00 to C$16.00 in a research report on Wednesday, March 27th. One 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$14.93.

Lundin Mining Stock Performance

TSE LUN opened at C$15.35 on Thursday. The stock has a market capitalization of C$11.90 billion, a price-to-earnings ratio of 36.55, a PEG ratio of -0.26 and a beta of 1.85. The business’s 50 day moving average is C$13.72 and its two-hundred day moving average is C$11.33. Lundin Mining has a 12-month low of C$8.18 and a 12-month high of C$16.51. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 23.15.

Lundin Mining (TSE:LUN) last issued its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.01). The firm had revenue of C$1.44 billion for the quarter, compared to analyst estimates of C$1.39 billion. Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%.

Lundin Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Thursday, March 21st. Lundin Mining’s dividend payout ratio is presently 85.71%.

Insider Transactions at Lundin Mining

In related news, Senior Officer Annie Laurenson sold 5,200 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of C$13.30, for a total transaction of C$69,160.00. Insiders own 15.70% of the company’s stock.

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.