Raymond James Comments on Lundin Mining Co.’s Q1 2024 Earnings (TSE:LUN)

Lundin Mining Co. (TSE:LUN) – Equities research analysts at Raymond James reduced their Q1 2024 earnings per share (EPS) estimates for shares of Lundin Mining in a report issued on Wednesday, April 17th. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.11 per share for the quarter, down from their previous estimate of $0.22. Raymond James has a “Market Perform” rating and a $13.00 price target on the stock. The consensus estimate for Lundin Mining’s current full-year earnings is $0.84 per share. Raymond James also issued estimates for Lundin Mining’s Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.18 EPS and FY2024 earnings at $0.68 EPS.

A number of other brokerages have also commented on LUN. Jefferies Financial Group upped their price target on Lundin Mining from C$18.00 to C$20.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft lowered Lundin Mining from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. UBS Group upped their target price on Lundin Mining from C$12.50 to C$18.25 in a research note on Tuesday, April 9th. Canaccord Genuity Group upped their target price on Lundin Mining from C$11.00 to C$16.50 in a research note on Wednesday, April 17th. Finally, Morgan Stanley upped their target price on Lundin Mining from C$16.30 to C$16.40 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$14.81.

Lundin Mining Stock Down 3.4 %

Shares of LUN stock opened at C$15.25 on Monday. Lundin Mining has a 12 month low of C$8.18 and a 12 month high of C$16.51. The firm has a market cap of C$11.82 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of -0.26 and a beta of 1.85. The stock has a 50 day moving average of C$13.18 and a 200-day moving average of C$11.08. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 23.15.

Lundin Mining (TSE:LUN) last issued its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 EPS for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.01). Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%. The business had revenue of C$1.44 billion for the quarter, compared to analyst estimates of C$1.39 billion.

Insider Buying and Selling

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

Lundin Mining Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd were paid a $0.09 dividend. The ex-dividend date was Thursday, March 21st. This represents a $0.36 annualized dividend and a dividend yield of 2.36%. Lundin Mining’s payout ratio is 85.71%.

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.