Lundin Mining Co. (LUN) to Issue Quarterly Dividend of $0.09 on December 11th

Lundin Mining Co. (TSE:LUN) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.09 per share by the mining company on Wednesday, December 11th. This represents a $0.36 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Friday, November 29th.

Lundin Mining Stock Performance

TSE:LUN opened at C$13.68 on Wednesday. The company has a market capitalization of C$10.63 billion, a PE ratio of 48.86, a P/E/G ratio of -0.26 and a beta of 1.66. Lundin Mining has a fifty-two week low of C$8.84 and a fifty-two week high of C$17.97. The company has a 50 day simple moving average of C$13.95 and a two-hundred day simple moving average of C$14.36. The company has a debt-to-equity ratio of 24.64, a quick ratio of 0.90 and a current ratio of 1.49.

Lundin Mining (TSE:LUN) last posted its quarterly earnings results on Wednesday, November 6th. The mining company reported C$0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.12). The business had revenue of C$1.46 billion for the quarter, compared to the consensus estimate of C$1.49 billion. Lundin Mining had a return on equity of 5.04% and a net margin of 4.21%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LUN shares. Ventum Financial increased their target price on Lundin Mining from C$18.50 to C$19.00 in a report on Friday, October 18th. Royal Bank of Canada dropped their price objective on 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. Haywood Securities upgraded Lundin Mining from a “hold” rating to a “buy” rating and set a C$17.00 price objective on the stock in a research note on Tuesday, August 6th. Scotiabank upgraded Lundin Mining from a “sector perform” rating to an “outperform” rating and dropped their price objective for the company from C$18.00 to C$16.00 in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. upgraded Lundin Mining from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from C$18.20 to C$17.30 in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$17.98.

Insider Activity

In other Lundin Mining news, Director Jack Oliver Lundin purchased 65,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of C$12.55 per share, for a total transaction of C$815,854.00. Corporate 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.