Raymond James Analysts Increase Earnings Estimates for Lundin Mining Co. (TSE:LUN)

Lundin Mining Co. (TSE:LUN) – Analysts at Raymond James increased their Q3 2021 earnings per share estimates for Lundin Mining in a research note issued on Wednesday, October 13th. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings of $0.33 per share for the quarter, up from their prior estimate of $0.28. Raymond James has a “Market Perform” rating and a $13.50 price objective on the stock. Raymond James also issued estimates for Lundin Mining’s FY2021 earnings at $1.27 EPS and FY2022 earnings at $0.78 EPS.

A number of other equities analysts have also recently commented on the stock. Barclays raised shares of Lundin Mining from an “underweight” rating to an “equal weight” rating in a research note on Thursday, July 8th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Lundin Mining in a research note on Thursday, September 2nd. National Bank Financial dropped their price target on shares of Lundin Mining to C$14.00 and set a “sector perform” rating for the company in a research note on Friday, September 10th. Bank of America dropped their price target on shares of Lundin Mining from C$15.30 to C$9.00 and set an “underperform” rating for the company in a research note on Wednesday, September 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Lundin Mining from C$17.50 to C$15.00 and set a “strong-buy” rating for the company in a research note on Tuesday, June 22nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Lundin Mining currently has an average rating of “Hold” and an average price target of C$12.97.

LUN stock opened at C$9.74 on Thursday. Lundin Mining has a 12 month low of C$7.54 and a 12 month high of C$16.07. The company has a current ratio of 1.78, a quick ratio of 1.37 and a debt-to-equity ratio of 2.96. The company has a 50-day moving average price of C$9.88 and a 200 day moving average price of C$11.84. The stock has a market cap of C$7.16 billion and a PE ratio of 9.24.

Lundin Mining (TSE:LUN) last posted its earnings results on Wednesday, July 28th. The mining company reported C$0.38 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.31 by C$0.07. The business had revenue of C$1.07 billion during the quarter.

In other news, Director Catherine Jean Garrett Stefan acquired 5,600 shares of Lundin Mining stock in a transaction that occurred on Friday, September 17th. The stock was purchased at an average price of C$8.91 per share, for a total transaction of C$49,896.00. Following the purchase, the director now directly owns 62,000 shares in the company, valued at approximately C$552,420. Also, Senior Officer Peter Thomas Rockandel sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 5th. The stock was sold at an average price of C$11.17, for a total transaction of C$279,250.00. Following the transaction, the insider now owns 45,000 shares of the company’s stock, valued at approximately C$502,650.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Friday, September 3rd were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Thursday, September 2nd. This is a boost from Lundin Mining’s previous quarterly dividend of $0.06. Lundin Mining’s dividend payout ratio is presently 15.05%.

About Lundin Mining

Lundin Mining Corporation, a diversified base metals mining company, engages in the exploration, development, and mining of mineral properties in Brazil, Chile, Portugal, Sweden, and the United States. It primarily produces copper, zinc, nickel, and gold, as well as lead, silver, and other metals. The company holds 100% interests in the Chapada mine located in Brazil; the Eagle mine located in the United States; the Neves-Corvo mine located in Portugal; and the Zinkgruvan mine located in Sweden.

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Earnings History and Estimates for Lundin Mining (TSE:LUN)

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