Lundin Mining Co. (TSE:LUN) Announces Quarterly Dividend of $0.09

Lundin Mining Co. (TSE:LUN) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Friday, November 29th will be given a dividend of 0.09 per share by the mining company on Wednesday, December 11th. This represents a $0.36 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Friday, November 29th.

Lundin Mining Stock Performance

TSE:LUN opened at C$13.68 on Wednesday. The business has a 50 day moving average of C$13.95 and a 200 day moving average of C$14.36. The company has a market capitalization of C$10.63 billion, a price-to-earnings ratio of 48.86, a PEG ratio of -0.26 and a beta of 1.66. Lundin Mining has a 1-year low of C$8.84 and a 1-year high of C$17.97. The company has a debt-to-equity ratio of 24.64, a current ratio of 1.49 and a quick ratio of 0.90.

Lundin Mining (TSE:LUN) last announced its quarterly earnings results on Wednesday, November 6th. The mining company reported C$0.12 EPS for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.12). The company had revenue of C$1.46 billion during the quarter, compared to analysts’ expectations of C$1.49 billion. Lundin Mining had a return on equity of 5.04% and a net margin of 4.21%.

Insiders Place Their Bets

In related news, Director Jack Oliver Lundin bought 65,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average cost of C$12.55 per share, with a total value of C$815,854.00. Corporate insiders own 15.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LUN shares. JPMorgan Chase & Co. raised Lundin Mining from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from C$18.20 to C$17.30 in a research note on Tuesday, August 20th. Ventum Financial boosted their target price on Lundin Mining from C$18.50 to C$19.00 in a research note on Friday, October 18th. CIBC boosted their target price on Lundin Mining from C$16.00 to C$17.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Royal Bank of Canada reduced their target price on Lundin Mining from C$20.00 to C$16.00 and set a “sector perform” rating on the stock in a research note on Tuesday, September 10th. Finally, Haywood Securities raised Lundin Mining from a “hold” rating to a “buy” rating and set a C$17.00 target price on the stock in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.