Lundin Mining FY2024 EPS Forecast Boosted by Stifel Canada

Lundin Mining Co. (TSE:LUN) – Equities research analysts at Stifel Canada upped their FY2024 EPS estimates for shares of Lundin Mining in a research report issued on Sunday, December 15th. Stifel Canada analyst C. Mcgill now anticipates that the mining company will post earnings of $0.75 per share for the year, up from their prior estimate of $0.71. Stifel Canada also issued estimates for Lundin Mining’s FY2025 earnings at $0.91 EPS and FY2026 earnings at $0.60 EPS.

Lundin Mining (TSE:LUN) last issued its earnings results on Wednesday, November 6th. The mining company reported C$0.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of C$1.49 billion.

LUN has been the subject of a number of other reports. Ventum Financial raised their target price on shares of Lundin Mining from C$18.50 to C$19.00 in a report on Friday, October 18th. Royal Bank of Canada decreased their target price on shares of Lundin Mining from C$20.00 to C$16.00 and set a “sector perform” rating on the stock in a research report on Tuesday, September 10th. UBS Group increased their price target on shares of Lundin Mining from C$16.00 to C$17.00 in a report on Monday, December 9th. Finally, Raymond James reduced their price objective on Lundin Mining from C$16.00 to C$15.00 in a research note on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Lundin Mining presently has an average rating of “Moderate Buy” and a consensus price target of C$17.72.

Lundin Mining Stock Performance

TSE LUN opened at C$11.93 on Wednesday. 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 1-year low of C$9.85 and a 1-year high of C$17.97. The business has a 50 day simple moving average of C$13.79 and a two-hundred day simple moving average of C$13.96. The stock has a market capitalization of C$9.27 billion, a PE ratio of 42.61, a P/E/G ratio of -0.26 and a beta of 1.66.

Lundin Mining Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Friday, November 29th. Lundin Mining’s dividend payout ratio is currently 128.57%.

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.