Raymond James Forecasts Reduced Earnings for Lundin Mining

Lundin Mining Co. (TSE:LUN) – Equities researchers at Raymond James reduced their Q4 2024 earnings per share (EPS) estimates for shares of Lundin Mining in a research note issued on Wednesday, January 15th. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings per share of $0.20 for the quarter, down from their previous estimate of $0.21. Raymond James has a “Market Perform” rating and a $14.00 price target on the stock.

Several other equities research analysts also recently weighed in on the company. UBS Group reduced their price target on Lundin Mining from C$17.00 to C$15.50 in a report on Tuesday, January 7th. Ventum Financial increased their target price on Lundin Mining from C$18.50 to C$19.00 in a research note on Friday, October 18th. Jefferies Financial Group lowered their target price on shares of Lundin Mining from C$20.00 to C$16.00 in a research note on Monday, January 6th. Finally, Scotiabank downgraded shares of Lundin Mining from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$17.31.

Lundin Mining Stock Performance

TSE:LUN opened at C$12.26 on Friday. The firm has a market capitalization of C$9.52 billion, a PE ratio of 43.79, a PEG ratio of -0.26 and a beta of 1.66. The stock’s fifty day moving average is C$13.05 and its 200 day moving average is C$13.57. Lundin Mining has a fifty-two week low of C$9.85 and a fifty-two week high of C$17.97. 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 (TSE:LUN) last posted its 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 business had revenue of C$1.46 billion during the quarter, compared to the consensus estimate of C$1.49 billion.

Lundin Mining Announces Dividend

The firm also recently declared 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. The ex-dividend date was Friday, November 29th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.94%. Lundin Mining’s payout ratio is 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.