Lundin Mining Co. (TSE:LUN) Forecasted to Post Q2 2024 Earnings of $0.21 Per Share

Lundin Mining Co. (TSE:LUN) – Stock analysts at National Bank Financial boosted their Q2 2024 earnings per share (EPS) estimates for shares of Lundin Mining in a note issued to investors on Thursday, May 2nd. National Bank Financial analyst S. Nagle now forecasts that the mining company will earn $0.21 per share for the quarter, up from their previous forecast of $0.16. The consensus estimate for Lundin Mining’s current full-year earnings is $0.84 per share. National Bank Financial also issued estimates for Lundin Mining’s Q3 2024 earnings at $0.23 EPS, FY2024 earnings at $0.75 EPS and FY2025 earnings at $0.60 EPS.

Lundin Mining (TSE:LUN) last released its earnings results on Wednesday, May 1st. The mining company reported C$0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.10 by C($0.02). The business had revenue of C$1.26 billion for the quarter, compared to analyst estimates of C$1.27 billion. Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%.

Several other research analysts have also recently commented on the stock. Pi Financial reiterated a “buy” rating on shares of Lundin Mining in a report on Friday, March 1st. Morgan Stanley upped their price objective on Lundin Mining from C$16.30 to C$16.40 in a research report on Tuesday, April 23rd. CIBC raised their target price on 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. Canaccord Genuity Group increased their price target on shares of Lundin Mining from C$11.00 to C$16.50 in a research note on Wednesday, April 17th. Finally, Bank of America boosted their target price on Lundin Mining from C$12.50 to C$18.50 in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Lundin Mining presently has an average rating of “Hold” and an average target price of C$15.23.

Lundin Mining Price Performance

LUN stock opened at C$16.19 on Monday. Lundin Mining has a 1 year low of C$8.18 and a 1 year high of C$16.51. The firm has a market capitalization of C$12.55 billion, a P/E ratio of 38.55, a P/E/G ratio of -0.26 and a beta of 1.85. The company has a debt-to-equity ratio of 23.15, a current ratio of 1.48 and a quick ratio of 0.90. The business’s 50-day moving average is C$14.10 and its two-hundred day moving average is C$11.53.

Lundin Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Friday, May 31st will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.36 dividend on an annualized basis and a yield of 2.22%. Lundin Mining’s payout ratio is 85.71%.

Insider Buying and Selling at Lundin Mining

In other news, Senior Officer Annie Laurenson sold 5,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$13.30, for a total value of C$69,160.00. 15.70% of the stock is currently owned by insiders.

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.