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

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

Lundin Mining Stock Down 3.9 %

Shares of Lundin Mining stock opened at C$13.89 on Friday. Lundin Mining has a 1 year low of C$8.19 and a 1 year high of C$17.97. The firm has a market cap of C$10.79 billion, a price-to-earnings ratio of 49.61, a PEG ratio of -0.26 and a beta of 1.66. The company has a 50-day moving average of C$13.62 and a 200 day moving average of C$14.51. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Friday, November 29th. Lundin Mining’s dividend payout ratio (DPR) is presently 128.57%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Ventum Financial increased their price objective on Lundin Mining from C$18.50 to C$19.00 in a research note on Friday, October 18th. Royal Bank of Canada dropped their price target on shares of Lundin Mining from C$20.00 to C$16.00 and set a “sector perform” rating for the company in a research report on Tuesday, September 10th. CIBC boosted their price objective on shares of 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. Haywood Securities upgraded shares of Lundin Mining from a “hold” rating to a “buy” rating and set a C$17.00 target price for the company in a report on Tuesday, August 6th. Finally, Canaccord Genuity Group reduced their price target on Lundin Mining from C$17.50 to C$16.50 in a report on Monday, July 22nd. 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$17.98.

Insider Buying and Selling

In other Lundin Mining news, Director Jack Oliver Lundin bought 65,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of C$12.55 per share, with a total value of C$815,854.00. 15.70% of the stock is currently owned by insiders.

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.