Lundin Mining Co. (TSE:LUN) Plans $0.09 Quarterly Dividend

Lundin Mining Co. (TSE:LUN) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Friday, May 31st will be paid a dividend of 0.09 per share by the mining company on Wednesday, June 19th. This represents a $0.36 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, May 31st.

Lundin Mining Price Performance

Shares of TSE LUN traded up C$0.19 during trading on Friday, hitting C$15.22. The company had a trading volume of 618,861 shares, compared to its average volume of 2,400,511. The firm has a market capitalization of C$11.80 billion, a price-to-earnings ratio of 35.79, a price-to-earnings-growth ratio of -0.26 and a beta of 1.85. Lundin Mining has a fifty-two week low of C$8.18 and a fifty-two week high of C$16.51. The stock has a fifty day simple moving average of C$13.80 and a two-hundred day simple moving average of C$11.36. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 23.15.

Lundin Mining (TSE:LUN) last announced its quarterly earnings data on Wednesday, May 1st. The mining company reported C$0.08 EPS for the quarter, missing analysts’ consensus estimates of C$0.10 by C($0.02). Lundin Mining had a return on equity of 5.32% and a net margin of 7.12%. The company had revenue of C$1.26 billion for the quarter, compared to analysts’ expectations of C$1.27 billion. On average, research analysts expect that Lundin Mining will post 0.8396226 earnings per share for the current year.

Insider Buying and Selling

In other Lundin Mining news, Senior Officer Annie Laurenson sold 5,200 shares of Lundin Mining stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of C$13.30, for a total value of C$69,160.00. Insiders own 15.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on LUN. Canaccord Genuity Group raised their target price on Lundin Mining from C$11.00 to C$16.50 in a research note on Wednesday, April 17th. Jefferies Financial Group lifted their target price on shares of Lundin Mining from C$18.00 to C$20.00 and gave the company a “buy” rating in a report on Friday, April 12th. UBS Group raised their price target on Lundin Mining from C$12.50 to C$18.25 in a research report on Tuesday, April 9th. JPMorgan Chase & Co. increased their target price on Lundin Mining from C$9.10 to C$15.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Finally, CIBC boosted their target price on Lundin Mining from C$12.00 to C$15.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$14.95.

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.