Lundin Mining (TSE:LUN) Issues Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Lundin Mining (TSE:LUN) issued its quarterly earnings data on Wednesday. The mining company reported C$0.12 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.12), reports. Lundin Mining had a net margin of 4.21% and a return on equity of 5.04%. The firm had revenue of C$1.46 billion during the quarter, compared to analyst estimates of C$1.49 billion.

Lundin Mining Trading Up 5.9 %

TSE LUN opened at C$14.45 on Friday. The firm’s fifty day moving average price is C$13.62 and its 200 day moving average price is C$14.52. The company has a market capitalization of C$11.23 billion, a price-to-earnings ratio of 51.61, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 24.64, a current ratio of 1.49 and a quick ratio of 0.90.

Lundin Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, November 29th. This represents a $0.36 annualized dividend and a dividend yield of 2.49%. Lundin Mining’s dividend payout ratio is presently 128.57%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Royal Bank of Canada cut their price target on shares of Lundin Mining from C$20.00 to C$16.00 and set a “sector perform” rating on the stock in a research note on Tuesday, September 10th. Ventum Financial boosted their price target 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 Lundin Mining from C$19.50 to C$18.50 and set an “outperform” rating on the stock in a research note on Monday, July 15th. Canaccord Genuity Group lowered their target price on Lundin Mining from C$17.50 to C$16.50 in a research note on Monday, July 22nd. Finally, CIBC increased their price target on Lundin Mining from C$16.00 to C$17.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Lundin Mining currently has an average rating of “Moderate Buy” and an average target price of C$17.98.

Insider Transactions at Lundin Mining

In other news, Director Jack Oliver Lundin acquired 65,000 shares of Lundin Mining stock in a transaction on 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. 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.