National Bank Financial Equities Analysts Reduce Earnings Estimates for Lundin Mining Co. (TSE:LUN)

Lundin Mining Co. (TSE:LUN) – Stock analysts at National Bank Financial lowered their FY2024 earnings estimates for Lundin Mining in a research report issued on Monday, October 14th. National Bank Financial analyst S. Nagle now forecasts that the mining company will post earnings per share of $0.68 for the year, down from their previous forecast of $0.75.

LUN has been the subject of a number of other research reports. Canaccord Genuity Group lowered their price objective on shares of Lundin Mining from C$17.50 to C$16.50 in a research report on Monday, July 22nd. JPMorgan Chase & Co. raised shares of Lundin Mining from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from C$18.20 to C$17.30 in a research report on Tuesday, August 20th. Morgan Stanley raised their price target on shares of Lundin Mining from C$20.00 to C$20.70 in a research report on Friday, June 21st. Haywood Securities raised 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 research report on Tuesday, August 6th. Finally, Scotiabank raised shares of Lundin Mining from a “sector perform” rating to an “outperform” rating and decreased their price target for the company from C$18.00 to C$16.00 in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Lundin Mining currently has a consensus rating of “Hold” and an average price target of C$17.51.

Lundin Mining Stock Performance

TSE:LUN opened at C$14.44 on Wednesday. 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 stock has a market capitalization of C$11.22 billion, a P/E ratio of 51.57, a PEG ratio of -0.26 and a beta of 1.66. The company has a 50 day moving average price of C$13.35 and a 200 day moving average price of C$14.64. Lundin Mining has a fifty-two week low of C$8.18 and a fifty-two week high of C$17.97.

Lundin Mining (TSE:LUN) last posted its quarterly earnings data 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). The company 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%.

Insider Activity

In related news, Director Jack Oliver Lundin purchased 65,000 shares of the business’s stock in a transaction that occurred 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. Company 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.