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

Lundin Mining Co. (TSE:LUN) – Stock analysts at National Bank Financial decreased their FY2024 EPS estimates for shares of Lundin Mining in a report released on Monday, October 14th. National Bank Financial analyst S. Nagle now anticipates that the mining company will earn $0.68 per share for the year, down from their prior forecast of $0.75.

Lundin Mining (TSE:LUN) last posted its quarterly earnings results on Tuesday, July 30th. The mining company reported C$0.22 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of C$1.51 billion.

Other equities research analysts have also issued research reports about the company. Morgan Stanley upped their target price on Lundin Mining from C$20.00 to C$20.70 in a research note on Friday, June 21st. JPMorgan Chase & Co. upgraded Lundin Mining from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from C$18.20 to C$17.30 in a research report on Tuesday, August 20th. Ventum Financial reduced their target price on shares of Lundin Mining from C$20.00 to C$18.50 in a report on Thursday, August 22nd. Eight Capital boosted their price objective on shares of Lundin Mining from C$16.00 to C$17.50 in a research report on Thursday, July 11th. Finally, Canaccord Genuity Group reduced their price objective on shares of Lundin Mining from C$17.50 to C$16.50 in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Lundin Mining presently has an average rating of “Hold” and an average target price of C$17.51.

Lundin Mining Stock Performance

TSE:LUN opened at C$14.06 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 24.64. The company has a market capitalization of C$10.92 billion, a P/E ratio of 50.21, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66. The firm has a 50-day moving average price of C$13.30 and a two-hundred day moving average price of C$14.63. 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 related news, Director Jack Oliver Lundin bought 65,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of C$12.55 per share, with a total value of C$815,854.00. 15.70% of the stock is owned by 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.