Lundin Mining Co. (TSE:LUN) – Equities researchers at National Bank Financial reduced their FY2019 EPS estimates for shares of Lundin Mining in a research report issued on Wednesday, September 11th. National Bank Financial analyst S. Nagle now anticipates that the mining company will earn $0.20 per share for the year, down from their prior forecast of $0.26. National Bank Financial currently has a “Outperform” rating and a $8.50 target price on the stock. National Bank Financial also issued estimates for Lundin Mining’s FY2020 earnings at $0.48 EPS.
A number of other equities research analysts have also commented on the company. Haywood Securities decreased their price target on Lundin Mining from C$9.50 to C$8.50 in a research report on Monday, September 9th. CIBC decreased their price target on Lundin Mining from C$9.00 to C$8.00 in a research report on Friday, September 6th. BMO Capital Markets decreased their price target on Lundin Mining from C$8.25 to C$8.00 in a research report on Thursday, July 25th. Bank of America decreased their price target on Lundin Mining from C$9.00 to C$8.25 in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. decreased their price target on Lundin Mining from C$9.00 to C$8.50 in a research report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of C$8.76.
LUN stock opened at C$6.87 on Friday. Lundin Mining has a 1-year low of C$4.70 and a 1-year high of C$7.96. The firm has a market cap of $5.05 billion and a P/E ratio of 63.03. The business’s 50 day moving average is C$6.21 and its 200-day moving average is C$6.60. The company has a current ratio of 2.49, a quick ratio of 1.95 and a debt-to-equity ratio of 1.76.
Lundin Mining (TSE:LUN) last released its quarterly earnings data on Wednesday, July 24th. The mining company reported C($0.01) earnings per share for the quarter, missing the consensus estimate of C$0.07 by C($0.08). The firm had revenue of C$493.94 million during the quarter.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Friday, September 6th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.12 dividend on an annualized basis and a yield of 1.75%. Lundin Mining’s dividend payout ratio (DPR) is presently 82.88%.
In other Lundin Mining news, insider Nemesia S.a.r.l. purchased 150,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of C$5.94 per share, for a total transaction of C$890,790.00. Following the transaction, the insider now directly owns 93,822,698 shares in the company, valued at C$557,175,474.34.
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, 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.