Raymond James Increases Lundin Mining (TSE:LUN) Price Target to C$15.00

Lundin Mining (TSE:LUN) had its price objective boosted by Raymond James from C$13.00 to C$15.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. Raymond James also issued estimates for Lundin Mining’s Q1 2024 earnings at $0.11 EPS, Q2 2024 earnings at $0.12 EPS, Q2 2024 earnings at $0.21 EPS, Q3 2024 earnings at $0.30 EPS, Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.25 EPS, FY2024 earnings at $0.86 EPS and FY2024 earnings at $0.68 EPS.

Several other equities analysts have also weighed in on the stock. CIBC lifted their target price on shares of Lundin Mining from C$12.00 to C$15.00 and gave the company a neutral rating in a report on Wednesday, April 17th. Bank of America lifted their target price on shares of Lundin Mining from C$12.50 to C$18.50 in a report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their target price on shares of Lundin Mining from C$9.10 to C$15.50 and gave the company a neutral rating in a report on Wednesday, April 17th. Eight Capital lowered shares of Lundin Mining from a buy rating to a neutral rating and lifted their target price for the company from C$13.00 to C$16.00 in a report on Monday, April 22nd. Finally, Stifel Nicolaus set a C$14.50 target price on shares of Lundin Mining and gave the company a buy rating in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of C$14.93.

Lundin Mining Stock Performance

LUN opened at C$16.23 on Wednesday. Lundin Mining has a 12-month low of C$8.18 and a 12-month high of C$16.51. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 23.15. The firm has a market capitalization of C$12.58 billion, a PE ratio of 38.64, a P/E/G ratio of -0.26 and a beta of 1.85. The firm has a 50 day moving average of C$13.45 and a two-hundred day moving average of C$11.20.

Lundin Mining (TSE:LUN) last posted its quarterly earnings results on Wednesday, February 21st. The mining company reported C$0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.15 by C($0.01). Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%. The business had revenue of C$1.44 billion for the quarter, compared to analysts’ expectations of C$1.39 billion. On average, analysts anticipate that Lundin Mining will post 0.8396226 EPS for the current year.

Lundin Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were paid a dividend of $0.09 per share. The ex-dividend date was Thursday, March 21st. This represents a $0.36 annualized dividend and a yield of 2.22%. Lundin Mining’s dividend payout ratio (DPR) is presently 85.71%.

Insiders Place Their Bets

In other news, Senior Officer Annie Laurenson sold 5,200 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$13.30, for a total transaction of C$69,160.00. 15.70% of the stock is currently owned by corporate insiders.

About Lundin Mining

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.