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

Lundin Mining Co. (TSE:LUN) – Analysts at National Bank Financial dropped their Q3 2024 earnings per share (EPS) estimates for shares of Lundin Mining in a research note issued to 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 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 posted its 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 company had revenue of C$1.48 billion for the quarter, compared to the consensus estimate of C$1.51 billion. Lundin Mining had a return on equity of 5.04% and a net margin of 4.21%.

LUN has been the subject of several other research reports. National Bankshares cut their price objective on Lundin Mining from C$19.50 to C$18.50 and set an “outperform” rating for the company in a research report on Monday, July 15th. JPMorgan Chase & Co. upgraded Lundin Mining from a “neutral” rating to an “overweight” rating and cut their price objective for the company from C$18.20 to C$17.30 in a research report on Tuesday, August 20th. Eight Capital lifted their price objective on Lundin Mining from C$16.00 to C$17.50 in a research report on Thursday, July 11th. Scotiabank upgraded Lundin Mining from a “sector perform” rating to an “outperform” rating and dropped their target price for the stock from C$18.00 to C$16.00 in a research report on Monday, August 19th. Finally, Ventum Financial dropped their target price on Lundin Mining from C$20.00 to C$18.50 in a research report on Thursday, August 22nd. One equities research 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 presently has an average rating of “Hold” and a consensus price target of C$17.51.

Lundin Mining Price Performance

Lundin Mining stock opened at C$14.44 on Thursday. 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 has a one year low of C$8.18 and a one year high of C$17.97. The business has a 50 day simple moving average of C$13.35 and a 200 day simple moving average of C$14.64.

Insider Buying and Selling

In related news, Director Jack Oliver Lundin acquired 65,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost 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.