Lundin Mining (TSE:LUN) Releases Earnings Results, Misses Expectations By $0.12 EPS

Lundin Mining (TSE:LUN) posted its earnings results on Wednesday. The mining company reported C$0.12 EPS for the quarter, missing the consensus estimate of C$0.24 by C($0.12), reports. Lundin Mining had a return on equity of 5.04% and a net margin of 4.21%. The company had revenue of C$1.46 billion for the quarter, compared to analyst estimates of C$1.49 billion.

Lundin Mining Stock Up 5.9 %

LUN stock opened at C$14.45 on Friday. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 24.64. The firm has a 50-day moving average of C$13.62 and a two-hundred day moving average of C$14.52. Lundin Mining has a 12 month low of C$8.18 and a 12 month high of C$17.97. The company has a market cap of C$11.23 billion, a price-to-earnings ratio of 51.61, a PEG ratio of -0.26 and a beta of 1.66.

Lundin Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.36 dividend on an annualized basis and a yield of 2.49%. Lundin Mining’s payout ratio is presently 128.57%.

Insider Transactions at Lundin Mining

In other news, Director Jack Oliver Lundin acquired 65,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of C$12.55 per share, with a total value of C$815,854.00. Insiders own 15.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of Lundin Mining from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from C$18.20 to C$17.30 in a research note on Tuesday, August 20th. Canaccord Genuity Group cut their price objective on shares of Lundin Mining from C$17.50 to C$16.50 in a report on Monday, July 22nd. CIBC increased their target price 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. Ventum Financial lifted their price target on Lundin Mining from C$18.50 to C$19.00 in a research note on Friday, October 18th. Finally, Scotiabank upgraded Lundin Mining from a “sector perform” rating to an “outperform” rating and lowered their price target for the stock from C$18.00 to C$16.00 in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$17.98.

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.