Lundin Mining (TSE:LUN) Issues Quarterly Earnings Results

Lundin Mining (TSE:LUN) posted its quarterly earnings results on Wednesday. The mining company reported C$0.46 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$1.58 billion for the quarter. Lundin Mining had a net margin of 35.11% and a return on equity of 22.97%.

Lundin Mining Price Performance

Lundin Mining stock traded up C$1.76 during trading hours on Wednesday, hitting C$31.67. 3,833,483 shares of the company traded hands, compared to its average volume of 2,634,825. The firm has a market cap of C$26.96 billion, a P/E ratio of 18.10, a P/E/G ratio of -0.26 and a beta of 2.36. The company has a quick ratio of 0.90, a current ratio of 1.60 and a debt-to-equity ratio of 2.88. The firm’s 50-day simple moving average is C$33.86 and its two-hundred day simple moving average is C$35.87. Lundin Mining has a 1-year low of C$21.76 and a 1-year high of C$45.74.

Analysts Set New Price Targets

Several brokerages have weighed in on LUN. Desjardins dropped their target price on Lundin Mining from C$44.00 to C$42.00 and set a “buy” rating on the stock in a research report on Thursday, August 20th. National Bank Financial reduced their price target on shares of Lundin Mining from C$43.50 to C$42.50 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. TD lowered their price target on shares of Lundin Mining from C$43.00 to C$42.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Stifel Nicolaus increased their price objective on shares of Lundin Mining from C$40.00 to C$42.00 and gave the stock a “buy” rating in a report on Tuesday, October 20th. Finally, ATB Cormark Capital Markets cut their price objective on shares of Lundin Mining from C$42.50 to C$41.50 and set an “outperform” rating on the stock in a research report on Monday, August 24th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Lundin Mining has a consensus rating of “Moderate Buy” and a consensus target price of C$39.81.

Lundin Mining Company Profile

Lundin Mining is a Canadian mining company headquartered in Vancouver, Canada with three operating mines in Brazil and Chile. We produce metals that underpin global development, supporting infrastructure, electrification, technological innovation, and economic resilience. Our strategic vision is to become a top ten global copper producer. To get there, we are executing a clear growth strategy, which includes advancing one of the world’s largest copper, gold, and silver projects in the Vicuna District on the border of Argentina and Chile, where we hold a 50% interest.