Raymond James Comments on Lundin Mining Co.’s Q3 2024 Earnings (OTCMKTS:LUNMF)

Lundin Mining Co. (OTCMKTS:LUNMF) – Equities researchers at Raymond James raised their Q3 2024 earnings estimates for shares of Lundin Mining in a note issued to investors on Monday, September 23rd. Raymond James analyst F. Hamed now anticipates that the basic materials company will post earnings of $0.21 per share for the quarter, up from their prior estimate of $0.20. The consensus estimate for Lundin Mining’s current full-year earnings is $0.73 per share. Raymond James also issued estimates for Lundin Mining’s Q4 2024 earnings at $0.22 EPS, FY2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.11 EPS, Q2 2025 earnings at $0.11 EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.11 EPS and FY2025 earnings at $0.44 EPS.

Separately, Scotiabank upgraded Lundin Mining to a “hold” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.83.

Lundin Mining Stock Performance

Shares of LUNMF opened at $10.32 on Wednesday. Lundin Mining has a 52-week low of $5.91 and a 52-week high of $13.26. The stock’s 50-day simple moving average is $9.63 and its 200 day simple moving average is $10.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.57. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 68.80, a price-to-earnings-growth ratio of 0.27 and a beta of 1.49.

Lundin Mining (OTCMKTS:LUNMF) last posted its earnings results on Tuesday, July 30th. The basic materials company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $1.08 billion during the quarter. Lundin Mining had a return on equity of 5.19% and a net margin of 4.21%.

Lundin Mining Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, September 2nd were given a $0.065 dividend. This represents a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, August 30th. Lundin Mining’s payout ratio is 173.33%.

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.