Analysts Issue Forecasts for Lundin Mining FY2024 Earnings

Lundin Mining Co. (TSE:LUN - Free Report) - Stock analysts at Scotiabank lowered their FY2024 earnings per share estimates for Lundin Mining in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now forecasts that the mining company will post earnings of $0.73 per share for the year, down from their previous forecast of $0.97.

Lundin Mining (TSE:LUN - Get Free Report) last announced its 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 business had revenue of C$1.46 billion for the quarter, compared to the consensus estimate of C$1.49 billion. Lundin Mining had a net margin of 4.21% and a return on equity of 5.04%.

A number of other analysts have also recently commented on the company. Ventum Financial boosted their price target on Lundin Mining from C$18.50 to C$19.00 in a research report on Friday, October 18th. UBS Group cut their target price on Lundin Mining from C$17.00 to C$15.50 in a research note on Tuesday. Raymond James reduced their price target on Lundin Mining from C$16.00 to C$15.00 in a report on Tuesday, December 10th. Finally, Jefferies Financial Group dropped their price target on shares of Lundin Mining from C$20.00 to C$16.00 in a research note on Monday. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Lundin Mining currently has a consensus rating of "Moderate Buy" and a consensus price target of C$17.38.

Lundin Mining Stock Down 4.0 %

TSE:LUN traded down C$0.52 during mid-day trading on Friday, hitting C$12.42. 1,833,014 shares of the company's stock were exchanged, compared to its average volume of 2,085,830. The company has a market cap of C$9.65 billion, a PE ratio of 44.36, a P/E/G ratio of -0.26 and a beta of 1.66. 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 has a one year low of C$9.85 and a one year high of C$17.97. The business has a fifty day moving average price of C$13.21 and a 200 day moving average price of C$13.67.

Lundin Mining Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, November 29th. This represents a $0.36 dividend on an annualized basis and a yield of 2.90%. Lundin Mining's dividend payout ratio is presently 128.57%.

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.