Lundin Mining Q3 EPS Estimate Cut by National Bank Financial

Lundin Mining Co. (TSE:LUN) – Research analysts at National Bank Financial cut their Q3 2024 earnings per share (EPS) estimates for Lundin Mining in a research note issued on Monday, October 14th. National Bank Financial analyst S. Nagle now expects that the mining company will post earnings of $0.11 per share for the quarter, down from their previous forecast of $0.22. National Bank Financial also issued estimates for Lundin Mining’s FY2025 earnings at $0.69 EPS.

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

A number of other research firms have also issued reports on LUN. Ventum Financial dropped their target price on Lundin Mining from C$20.00 to C$18.50 in a report on Thursday, August 22nd. Morgan Stanley boosted their target price on Lundin Mining from C$20.00 to C$20.70 in a report on Friday, June 21st. Haywood Securities raised Lundin Mining from a “hold” rating to a “buy” rating and set a C$17.00 target price on the stock in a report on Tuesday, August 6th. Canaccord Genuity Group dropped their target price on Lundin Mining from C$17.50 to C$16.50 in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. upgraded Lundin Mining from a “neutral” rating to an “overweight” rating and decreased their price target for the company from C$18.20 to C$17.30 in a research note 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. According to MarketBeat.com, Lundin Mining has a consensus rating of “Hold” and an average target price of C$17.51.

Lundin Mining Stock Performance

The firm has a market capitalization of C$10.99 billion, a price-to-earnings ratio of 51.57, a P/E/G 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. The company has a 50-day moving average of C$13.35 and a 200 day moving average of C$14.64. Lundin Mining has a twelve month low of C$8.18 and a twelve month high of C$17.97.

Insiders Place Their Bets

In other news, Director Jack Oliver Lundin bought 65,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were bought 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 owned by company 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.