Lundin Mining FY2024 EPS Forecast Reduced by Raymond James

Lundin Mining Co. (TSE:LUN) – Raymond James decreased their FY2024 EPS estimates for shares of 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 earn $0.86 per share for the year, down from their previous estimate 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 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of C$1.51 billion.

LUN has been the topic of several other reports. 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 on the stock in a research report on Tuesday, September 10th. Eight Capital increased their target price on Lundin Mining from C$16.00 to C$17.50 in a research note on Thursday, July 11th. National Bankshares dropped their price target on Lundin Mining from C$19.50 to C$18.50 and set an “outperform” rating on the stock in a research report on Monday, July 15th. Scotiabank raised Lundin Mining from a “sector perform” rating to an “outperform” rating and reduced their price objective for the company from C$18.00 to C$16.00 in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. raised shares of Lundin Mining from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from C$18.20 to C$17.30 in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$17.54.

Lundin Mining Stock Performance

The company has a debt-to-equity ratio of 24.64, a quick ratio of 0.90 and a current ratio of 1.49. The company has a market capitalization of C$10.97 billion, a price-to-earnings ratio of 51.14, a PEG ratio of -0.26 and a beta of 1.66. Lundin Mining has a 52-week low of C$8.18 and a 52-week high of C$17.97. The company’s fifty day simple moving average is C$13.50 and its 200 day simple moving average is C$14.64.

Insider Buying and Selling

In other news, Director Jack Oliver Lundin purchased 65,000 shares of Lundin Mining stock in a transaction on 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. 15.70% of the stock is currently owned by corporate insiders.

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.