Lundin Mining Co. (TSE:LUN) Announces Quarterly Dividend of $0.09

Lundin Mining Co. (TSE:LUN) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.09 per share by the mining company on Wednesday, December 11th. This represents a $0.36 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Friday, November 29th.

Lundin Mining Stock Performance

LUN stock opened at C$14.45 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 24.64. The company has a market capitalization of C$11.23 billion, a price-to-earnings ratio of 51.61, a P/E/G ratio of -0.26 and a beta of 1.66. Lundin Mining has a 12 month low of C$8.18 and a 12 month high of C$17.97. The firm has a 50 day moving average of C$13.62 and a two-hundred day moving average of C$14.52.

Lundin Mining (TSE:LUN) last posted its earnings results on Wednesday, November 6th. The mining company reported C$0.12 EPS for the quarter, missing the consensus estimate of C$0.24 by C($0.12). Lundin Mining had a return on equity of 5.04% and a net margin of 4.21%. The business had revenue of C$1.46 billion during the quarter, compared to the consensus estimate of C$1.49 billion.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LUN. CIBC boosted their price objective on shares of Lundin Mining from C$16.00 to C$17.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Ventum Financial boosted their price objective on shares of Lundin Mining from C$18.50 to C$19.00 in a research note on Friday, October 18th. National Bankshares reduced their price objective on shares of Lundin Mining from C$19.50 to C$18.50 and set an “outperform” rating for the company in a research note on Monday, July 15th. Scotiabank upgraded shares of Lundin Mining from a “sector perform” rating to an “outperform” rating and reduced their price objective for the stock from C$18.00 to C$16.00 in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. upgraded shares of Lundin Mining from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from C$18.20 to C$17.30 in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Lundin Mining has an average rating of “Moderate Buy” and a consensus price target of C$17.98.

Insider Activity

In other Lundin Mining news, Director Jack Oliver Lundin acquired 65,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of C$12.55 per share, for a total transaction of C$815,854.00. Corporate insiders own 15.70% of the company’s stock.

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.