Analysts Offer Predictions for Lundin Mining FY2024 Earnings

Lundin Mining Co. (TSE:LUN) – Stock analysts at Raymond James cut their FY2024 EPS estimates for Lundin Mining in a research note issued to investors on Wednesday, October 23rd. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings of $0.86 per share for the year, down from their prior forecast of $0.88. Raymond James also issued estimates for Lundin Mining’s Q4 2024 earnings at $0.32 EPS.

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

Several other brokerages also recently weighed in on LUN. Ventum Financial upped their target price on shares of Lundin Mining from C$18.50 to C$19.00 in a research note on Friday, October 18th. Canaccord Genuity Group lowered their target price on shares of Lundin Mining from C$17.50 to C$16.50 in a report on Monday, July 22nd. CIBC upped their target price on shares of Lundin Mining from C$16.00 to C$17.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Eight Capital upped their target price on shares of Lundin Mining from C$16.00 to C$17.50 in a report on Thursday, July 11th. Finally, Royal Bank of Canada lowered their target price on shares of Lundin Mining from C$20.00 to C$16.00 and set a “sector perform” rating for the company in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$17.54.

Lundin Mining Price Performance

Lundin Mining stock opened at C$14.17 on Friday. Lundin Mining has a 1 year low of C$8.18 and a 1 year high of C$17.97. The company’s 50 day simple moving average is C$13.53 and its 200-day simple moving average is C$14.63. The company has a market capitalization of C$11.01 billion, a price-to-earnings ratio of 50.61, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66. The company has a debt-to-equity ratio of 24.64, a quick ratio of 0.90 and a current ratio of 1.49.

Insiders Place Their Bets

In other news, Director Jack Oliver Lundin acquired 65,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of C$12.55 per share, for a total transaction of C$815,854.00. 15.70% of the stock is owned by insiders.

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.