Lundin Mining Co. (TSE:LUN) to Post Q3 2024 Earnings of $0.11 Per Share, National Bank Financial Forecasts

Lundin Mining Co. (TSE:LUN) – Equities researchers at National Bank Financial dropped their Q3 2024 earnings per share (EPS) estimates for shares of Lundin Mining in a research report issued to clients and investors on Monday, October 14th. National Bank Financial analyst S. Nagle now forecasts that the mining company will post earnings per share of $0.11 for the quarter, down from their prior forecast of $0.22. National Bank Financial also issued estimates for Lundin Mining’s FY2025 earnings at $0.69 EPS.

A number of other research analysts have also commented on LUN. Canaccord Genuity Group lowered their price objective on Lundin Mining from C$17.50 to C$16.50 in a report on Monday, July 22nd. Haywood Securities raised Lundin Mining from a “hold” rating to a “buy” rating and set a C$17.00 price objective on the stock in a report on Tuesday, August 6th. Morgan Stanley increased their price objective on Lundin Mining from C$20.00 to C$20.70 in a report on Friday, June 21st. Scotiabank raised Lundin Mining from a “sector perform” rating to an “outperform” rating and lowered their price objective for the company from C$18.00 to C$16.00 in a report on Monday, August 19th. Finally, Royal Bank of Canada lowered their price objective on Lundin Mining from C$20.00 to C$16.00 and set a “sector perform” rating on the stock in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$17.51.

Lundin Mining Stock Up 2.7 %

LUN opened at C$14.44 on Thursday. Lundin Mining has a fifty-two week low of C$8.18 and a fifty-two week high of C$17.97. The business has a 50-day moving average of C$13.35 and a 200-day moving average of C$14.64. The company has a debt-to-equity ratio of 24.64, a current ratio of 1.49 and a quick ratio of 0.90. The company has a market capitalization of C$11.22 billion, a PE ratio of 51.57, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66.

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 return on equity of 5.04% and a net margin of 4.21%. The firm had revenue of C$1.48 billion for the quarter, compared to analysts’ expectations of C$1.51 billion.

Insider Transactions at Lundin Mining

In other news, Director Jack Oliver Lundin acquired 65,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of C$12.55 per share, with a total value 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.