Lundin Mining Co. (TSE:LUN) Expected to Post Q2 2024 Earnings of $0.24 Per Share

Lundin Mining Co. (TSE:LUN) – Investment analysts at Cormark raised their Q2 2024 earnings per share (EPS) estimates for shares of Lundin Mining in a research note issued to investors on Thursday, July 4th. Cormark analyst S. Ioannou now expects that the mining company will post earnings per share of $0.24 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 announced its 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). Lundin Mining had a return on equity of 3.49% and a net margin of 3.04%. The company had revenue of C$1.26 billion for the quarter, compared to analysts’ expectations of C$1.27 billion.

A number of other analysts have also issued reports on LUN. Jefferies Financial Group boosted their target price on Lundin Mining from C$18.00 to C$20.00 and gave the company a “buy” rating in a research report on Friday, April 12th. UBS Group boosted their price objective on Lundin Mining from C$12.50 to C$18.25 in a report on Tuesday, April 9th. National Bankshares raised their target price on Lundin Mining from C$18.00 to C$19.50 and gave the company an “outperform” rating in a report on Monday, June 10th. Canaccord Genuity Group lifted their target price on Lundin Mining from C$16.50 to C$17.50 and gave the company a “hold” rating in a research report on Monday, May 13th. Finally, Scotiabank increased their price target on shares of Lundin Mining from C$14.50 to C$18.00 in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Lundin Mining has an average rating of “Hold” and a consensus price target of C$17.18.

Lundin Mining Stock Performance

Shares of LUN stock opened at C$15.86 on Monday. The company has a debt-to-equity ratio of 25.05, a quick ratio of 0.90 and a current ratio of 1.57. The firm has a market cap of C$12.31 billion, a P/E ratio of 83.47, a P/E/G ratio of -0.26 and a beta of 1.82. The firm’s 50 day moving average price is C$15.70 and its 200-day moving average price is C$13.54. Lundin Mining has a one year low of C$8.18 and a one year high of C$17.97.

Lundin Mining Announces Dividend

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

Insider Buying and Selling at Lundin Mining

In other Lundin Mining news, 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. In related news, Senior Officer Annie Laurenson sold 12,500 shares of the business’s stock in a transaction that occurred 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 company’s stock in a transaction that occurred 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. Insiders own 15.70% of the company’s stock.

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.