Lundin Mining Co. to Issue Quarterly Dividend of $0.09 (TSE:LUN)

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 paid 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 2.61%. The ex-dividend date of this dividend is Friday, November 29th.

Lundin Mining Stock Performance

Lundin Mining stock opened at C$13.79 on Thursday. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 24.64. The stock has a 50 day moving average of C$13.98 and a 200-day moving average of C$14.34. The stock has a market cap of C$10.71 billion, a P/E ratio of 49.25, a price-to-earnings-growth ratio of -0.26 and a beta of 1.66. Lundin Mining has a 52 week low of C$8.84 and a 52 week high of C$17.97.

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

Insider Activity at Lundin Mining

In other Lundin Mining news, Director Jack Oliver Lundin purchased 65,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of C$12.55 per share, for a total transaction of C$815,854.00. Company insiders own 15.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LUN. Royal Bank of Canada cut 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. CIBC upped their price target on 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. JPMorgan Chase & Co. raised shares of Lundin Mining from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from C$18.20 to C$17.30 in a report on Tuesday, August 20th. Ventum Financial increased their target price on shares of Lundin Mining from C$18.50 to C$19.00 in a report on Friday, October 18th. Finally, Haywood Securities raised shares of Lundin Mining from a “hold” rating to a “buy” rating and set a C$17.00 price objective for the company in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$17.98.

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.