Q3 2020 EPS Estimates for Lundin Mining Co. Raised by Raymond James (TSE:LUN)
Lundin Mining Co. (TSE:LUN) – Analysts at Raymond James upped their Q3 2020 earnings estimates for Lundin Mining in a research report issued on Wednesday, September 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.11 per share for the quarter, up from their prior estimate of $0.07. Raymond James currently has a “Market Perform” rating and a $8.50 target price on the stock. Raymond James also issued estimates for Lundin Mining’s FY2020 earnings at $0.25 EPS, Q1 2021 earnings at $0.11 EPS, Q2 2021 earnings at $0.12 EPS and FY2021 earnings at $0.45 EPS.
Other equities research analysts also recently issued research reports about the stock. National Bank Financial boosted their price objective on shares of Lundin Mining from C$8.50 to C$9.75 in a research report on Friday, September 11th. Canaccord Genuity boosted their price objective on shares of Lundin Mining from C$8.50 to C$11.00 in a research report on Monday, July 20th. TD Securities raised shares of Lundin Mining from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$9.00 to C$10.50 in a research report on Wednesday, September 16th. Eight Capital boosted their target price on shares of Lundin Mining from C$10.00 to C$10.50 in a research note on Monday, July 20th. Finally, Royal Bank of Canada lowered shares of Lundin Mining from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from C$9.00 to C$8.50 in a research note on Friday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of C$9.40.
Lundin Mining (TSE:LUN) last released its earnings results on Wednesday, July 29th. The mining company reported C$0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.01 by C$0.09. The company had revenue of C$739.47 million during the quarter, compared to the consensus estimate of C$654.24 million.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Friday, September 4th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Thursday, September 3rd. Lundin Mining’s dividend payout ratio is currently 147.92%.
In other news, Senior Officer Jinhee Magie sold 44,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of C$8.33, for a total value of C$366,520.00. Following the completion of the sale, the insider now directly owns 176,000 shares of the company’s stock, valued at approximately C$1,466,080. Over the last ninety days, insiders sold 89,800 shares of company stock valued at $732,885.
About Lundin Mining
Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Chile, the United States, Portugal, and Sweden. It primarily produces copper, zinc, and nickel, as well as gold, lead, silver, and other metals. The company holds 100% interests in the Eagle mine located in the United States; the Neves-Corvo mine located in Portugal; and the Zinkgruvan mine located in Sweden, as well as 80% interest in the Candelaria and Ojos del Salado mining complex located in Chile; and 24% interest in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland.
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