FY2024 EPS Estimates for Lundin Mining Reduced by Scotiabank

Lundin Mining Co. (TSE:LUN) – Investment analysts at Scotiabank cut their FY2024 earnings per share (EPS) estimates for shares of Lundin Mining in a research note issued on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now anticipates that the mining company will post earnings of $0.73 per share for the year, down from their previous estimate of $0.97.

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

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

Lundin Mining Stock Up 2.6 %

Shares of Lundin Mining stock opened at C$12.94 on Friday. Lundin Mining has a 1 year low of C$9.85 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. The company has a market capitalization of C$10.05 billion, a P/E ratio of 46.21, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66. The business has a 50-day moving average of C$13.24 and a two-hundred day moving average of C$13.69.

Lundin Mining Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Friday, November 29th. Lundin Mining’s dividend payout ratio is currently 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.