Lundin Mining (LUN) Set to Announce Earnings on Wednesday

Lundin Mining (TSE:LUN) will be posting its quarterly earnings results before the market opens on Wednesday, November 6th. Analysts expect Lundin Mining to post earnings of C$0.29 per share for the quarter.

Lundin Mining (TSE:LUN) last posted its quarterly earnings results on Tuesday, July 30th. The mining company reported C$0.22 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of C$1.48 billion during the quarter, compared to analyst estimates of C$1.51 billion.

Lundin Mining Trading Up 4.2 %

LUN opened at C$14.77 on Wednesday. The company’s 50 day moving average is C$13.56 and its 200-day moving average is C$14.62. 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 has a 1-year low of C$8.18 and a 1-year high of C$17.97. The company has a market cap of C$11.47 billion, a P/E ratio of 51.14, a PEG ratio of -0.26 and a beta of 1.66.

Analyst Ratings Changes

Several equities research analysts recently commented on LUN shares. Scotiabank upgraded shares of Lundin Mining from a “sector perform” rating to an “outperform” rating and cut their target price for the stock from C$18.00 to C$16.00 in a research report on Monday, August 19th. Haywood Securities upgraded shares of Lundin Mining from a “hold” rating to a “buy” rating and set a C$17.00 price target for the company in a report on Tuesday, August 6th. JPMorgan Chase & Co. upgraded shares of Lundin Mining from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from C$18.20 to C$17.30 in a report on Tuesday, August 20th. Canaccord Genuity Group lowered their price target on shares of Lundin Mining from C$17.50 to C$16.50 in a report on Monday, July 22nd. Finally, CIBC raised their price target on shares of Lundin Mining from C$16.00 to C$17.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. 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. According to MarketBeat, Lundin Mining presently has an average rating of “Hold” and a consensus price target of C$17.54.

Insiders Place Their Bets

In related news, Director Jack Oliver Lundin purchased 65,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of C$12.55 per share, for a total transaction of C$815,854.00. Insiders own 15.70% of the company’s stock.

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.