Lundin Mining Q3 EPS Forecast Decreased by Raymond James

Lundin Mining Co. (TSE:LUN - Free Report) - Equities researchers at Raymond James cut their Q3 2024 earnings per share (EPS) estimates for shares of Lundin Mining in a report issued on Wednesday, October 23rd. Raymond James analyst F. Hamed now expects that the mining company will earn $0.23 per share for the quarter, down from their prior forecast of $0.29.

Several other analysts have also weighed in on LUN. CIBC boosted their target price on shares of 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. Eight Capital increased their price objective on shares of Lundin Mining from C$16.00 to C$17.50 in a research note on Thursday, July 11th. National Bankshares decreased their target price on Lundin Mining from C$19.50 to C$18.50 and set an "outperform" rating for the company in a research note on Monday, July 15th. JPMorgan Chase & Co. upgraded Lundin Mining from a "neutral" rating to an "overweight" rating and dropped their price target for the stock from C$18.20 to C$17.30 in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada reduced their price objective on Lundin Mining from C$20.00 to C$16.00 and set a "sector perform" rating for the company in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Lundin Mining presently has a consensus rating of "Hold" and an average price target of C$17.54.

Lundin Mining Stock Performance

Shares of Lundin Mining stock remained flat at C$14.17 during trading on Monday. 1,909,540 shares of the stock were exchanged, compared to its average volume of 2,342,521. The company has a debt-to-equity ratio of 24.64, a quick ratio of 0.90 and a current ratio of 1.49. Lundin Mining has a 1-year low of C$8.18 and a 1-year high of C$17.97. The firm's fifty day simple moving average is C$13.53 and its two-hundred day simple moving average is C$14.62. The firm has a market capitalization of C$11.01 billion, a P/E ratio of 50.11, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66.

Lundin Mining (TSE:LUN - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The mining company reported C$0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.25 by C($0.03). The company had revenue of C$1.48 billion during the quarter, compared to analyst estimates of C$1.51 billion. Lundin Mining had a net margin of 4.21% and a return on equity of 5.04%.

Insider Buying and Selling

In other Lundin Mining news, Director Jack Oliver Lundin acquired 65,000 shares of Lundin Mining stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of C$12.55 per share, for a total transaction of C$815,854.00. 15.70% of the stock is owned by corporate insiders.

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.