Lundin Mining Co. (TSE:LUN) to Issue Quarterly Dividend of $0.04

Lundin Mining Co. (TSE:LUN) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Shareholders of record on Friday, September 4th will be paid a dividend of 0.04 per share by the mining company on Wednesday, September 16th. This represents a $0.16 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, September 3rd.

Shares of TSE LUN traded down C$0.04 during mid-day trading on Friday, reaching C$7.63. The company’s stock had a trading volume of 773,793 shares, compared to its average volume of 2,324,012. The company has a debt-to-equity ratio of 11.70, a current ratio of 1.48 and a quick ratio of 1.06. Lundin Mining has a 52 week low of C$4.08 and a 52 week high of C$8.59. The stock has a fifty day moving average of C$7.47 and a two-hundred day moving average of C$6.76. The firm has a market capitalization of $5.63 billion and a PE ratio of 1,278.33.

Lundin Mining (TSE:LUN) last posted its quarterly earnings results on Wednesday, April 29th. The mining company reported C($0.08) EPS for the quarter. The company had revenue of C$507.44 million during the quarter. Analysts anticipate that Lundin Mining will post 0.42 EPS for the current fiscal year.

Several research firms have recently commented on LUN. Canaccord Genuity boosted their target price on shares of Lundin Mining from C$8.50 to C$11.00 in a report on Monday, July 20th. CIBC boosted their price target on shares of Lundin Mining from C$8.00 to C$10.00 in a research note on Wednesday, July 15th. BMO Capital Markets raised their price objective on Lundin Mining from C$8.25 to C$10.00 in a research report on Thursday, June 25th. CSFB decreased their target price on Lundin Mining from C$8.00 to C$7.00 in a research report on Wednesday, April 22nd. Finally, Raymond James raised their price target on Lundin Mining from C$7.00 to C$9.00 and gave the company a “market perform” rating in a report on Wednesday, July 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of C$9.00.

In other Lundin Mining news, Senior Officer Jinhee Magie sold 19,500 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of C$6.57, for a total transaction of C$128,115.00. Following the sale, the insider now directly owns 233,000 shares in the company, valued at C$1,530,810.

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, the United States, Portugal, and Sweden. It primarily produces copper, zinc, and nickel, as well as gold, lead, silver, and other metals. The company holds 100% interests in the Eagle mine located in the United States; the Neves-Corvo mine located in Portugal; and the Zinkgruvan mine located in Sweden, as well as 80% interest in the Candelaria and Ojos del Salado mining complex located in Chile; and 24% interest in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland.

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Dividend History for Lundin Mining (TSE:LUN)

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