Q2 2024 EPS Estimates for Lundin Mining Co. Boosted by Cormark (TSE:LUN)

Lundin Mining Co. (TSE:LUN) – Stock analysts at Cormark lifted their Q2 2024 EPS estimates for Lundin Mining in a note issued to investors on Thursday, July 4th. Cormark analyst S. Ioannou now forecasts that the mining company will earn $0.24 per share for the quarter, up from their prior estimate of $0.23. The consensus estimate for Lundin Mining’s current full-year earnings is $0.79 per share. Cormark also issued estimates for Lundin Mining’s Q4 2024 earnings at $0.45 EPS.

Lundin Mining (TSE:LUN) last posted its quarterly earnings results on Wednesday, May 1st. The mining company reported C$0.08 earnings per share for the quarter, missing the consensus estimate of C$0.10 by C($0.02). The company had revenue of C$1.26 billion during the quarter, compared to analysts’ expectations of C$1.27 billion. Lundin Mining had a return on equity of 3.49% and a net margin of 3.04%.

Other equities analysts have also recently issued research reports about the stock. Eight Capital cut shares of 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 research note on Monday, April 22nd. Stifel Nicolaus upped their target price on shares of Lundin Mining from C$16.50 to C$18.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Raymond James raised their price target on shares of Lundin Mining from C$15.00 to C$18.00 in a research report on Thursday, May 23rd. Royal Bank of Canada boosted their price objective on shares of Lundin Mining from C$13.00 to C$17.00 and gave the stock a “sector perform” rating in a report on Friday, May 3rd. Finally, Haywood Securities lowered Lundin Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Lundin Mining currently has an average rating of “Hold” and an average target price of C$17.18.

Lundin Mining Trading Up 0.3 %

Lundin Mining stock opened at C$15.86 on Monday. Lundin Mining has a 12 month low of C$8.18 and a 12 month high of C$17.97. The company has a current ratio of 1.57, a quick ratio of 0.90 and a debt-to-equity ratio of 25.05. The business’s fifty day simple moving average is C$15.70 and its two-hundred day simple moving average is C$13.54. The company has a market capitalization of C$12.31 billion, a price-to-earnings ratio of 83.47, a price-to-earnings-growth ratio of -0.26 and a beta of 1.82.

Lundin Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Friday, May 31st were issued a dividend of $0.09 per share. The ex-dividend date was Friday, May 31st. This represents a $0.36 annualized dividend and a dividend yield of 2.27%. Lundin Mining’s dividend payout ratio (DPR) is 189.47%.

Insider Activity

In other Lundin Mining news, Senior Officer Teitur Nolsoe Poulsen sold 8,834 shares of Lundin Mining stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of C$17.64, for a total value of C$155,831.76. In related news, Senior Officer Annie Laurenson sold 12,500 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of C$17.20, for a total transaction of C$215,000.00. Also, Senior Officer Teitur Nolsoe Poulsen sold 8,834 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of C$17.64, for a total value of C$155,831.76. Corporate 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.