Lundin Mining Co. (TSE:LUN) – Equities researchers at Cormark boosted their Q1 2020 earnings per share estimates for Lundin Mining in a research report issued on Friday, November 30th. Cormark analyst S. Ioannou now anticipates that the mining company will earn $0.19 per share for the quarter, up from their previous forecast of $0.17. Cormark also issued estimates for Lundin Mining’s Q2 2020 earnings at $0.17 EPS, Q3 2020 earnings at $0.17 EPS and FY2020 earnings at $0.69 EPS.
Lundin Mining (TSE:LUN) last issued its earnings results on Wednesday, October 24th. The mining company reported C$0.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.03). The firm had revenue of C$496.23 million during the quarter, compared to the consensus estimate of C$561.99 million.
A number of other equities analysts also recently weighed in on LUN. CIBC dropped their target price on Lundin Mining from C$10.00 to C$9.00 in a report on Friday, August 31st. CSFB reiterated a “neutral” rating and issued a C$10.00 target price on shares of Lundin Mining in a report on Monday, September 10th. Barclays reiterated an “overweight” rating on shares of Lundin Mining in a report on Wednesday, October 10th. Raymond James dropped their price objective on Lundin Mining from C$9.00 to C$8.50 and set a “market perform” rating on the stock in a report on Friday, October 26th. Finally, Royal Bank of Canada upgraded Lundin Mining from a “sector perform” rating to an “outperform” rating and set a C$8.00 price objective on the stock in a report on Friday, October 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of C$9.00.
Shares of LUN opened at C$5.79 on Monday. Lundin Mining has a fifty-two week low of C$4.70 and a fifty-two week high of C$9.23. The company has a debt-to-equity ratio of 10.33, a current ratio of 4.37 and a quick ratio of 3.82.
In other Lundin Mining news, insider Jinhee Magie sold 20,334 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of C$7.07, for a total transaction of C$143,761.38. Also, insider Jonas Peter Haddoc Richardson sold 8,320 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of C$5.49, for a total value of C$45,676.80. Insiders purchased 445,000 shares of company stock worth $734,950 in the last 90 days.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Friday, December 7th will be issued a $0.03 dividend. The ex-dividend date is Thursday, December 6th. This represents a $0.12 dividend on an annualized basis and a yield of 2.07%. Lundin Mining’s dividend payout ratio is currently 22.66%.
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% interest 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 Candelaria and Ojos del Salado mining complex; and 24% interest the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland.
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