FY2024 EPS Estimates for Lundin Mining Decreased by Analyst

Lundin Mining Co. (TSE:LUN) – Research analysts at National Bank Financial decreased their FY2024 earnings per share (EPS) estimates for shares of Lundin Mining in a note issued to investors on Monday, October 14th. National Bank Financial analyst S. Nagle now anticipates that the mining company will earn $0.68 per share for the year, down from their previous forecast of $0.75.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. raised Lundin Mining from a “neutral” rating to an “overweight” rating and decreased their price target for the company from C$18.20 to C$17.30 in a research note on Tuesday, August 20th. Scotiabank raised Lundin Mining from a “sector perform” rating to an “outperform” rating and decreased their target price for the stock from C$18.00 to C$16.00 in a research note on Monday, August 19th. Royal Bank of Canada decreased 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. National Bankshares decreased their target price on Lundin Mining from C$19.50 to C$18.50 and set an “outperform” rating on the stock in a research note on Monday, July 15th. Finally, CIBC increased their target price on Lundin Mining from C$16.00 to C$17.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$17.51.

Lundin Mining Price Performance

Lundin Mining has a 12 month low of C$8.18 and a 12 month high of C$17.97. The company has a 50 day simple moving average of C$13.35 and a two-hundred day simple moving average of C$14.64. The firm has a market cap of C$10.99 billion, a price-to-earnings ratio of 51.57, a PEG ratio of -0.26 and a beta of 1.66. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 24.64.

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

Insider Activity

In other news, Director Jack Oliver Lundin purchased 65,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of C$12.55 per share, for a total transaction of C$815,854.00. Company insiders own 15.70% of the company’s stock.

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.