Stock LUN LUNDIN MINING CORPORATION
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Financials Lundin Mining Corporation

Equities

LUN

CA5503721063

Diversified Mining

Market Closed - Toronto S.E.
Other stock markets
 04:00:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
16.23 CAD +4.04% Intraday chart for Lundin Mining Corporation +2.46% +49.72%
Apr. 26 Copper Hits US$10,000 a Ton as BHP Bid Shows Tight Supply Pipeline MT
Apr. 25 Lundin Mining Corporation agreed to acquire Fruta del Norte gold mine in Ecuador from Newmont Corporation for approximately $330 million. CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,383 6,530 5,743 4,724 6,326 9,196 - -
Enterprise Value (EV) 1 4,441 6,591 5,180 4,735 7,543 10,574 10,939 11,511
P/E ratio 26 x 38.6 x 7.37 x 10.9 x 26.4 x 19.1 x 17.9 x 19.9 x
Yield 1.52% 1.43% 3.93% 5.66% 3.26% 2.16% 2.26% 2.23%
Capitalization / Revenue 2.32 x 3.2 x 1.73 x 1.55 x 1.86 x 2.17 x 2.15 x 2.12 x
EV / Revenue 2.35 x 3.23 x 1.56 x 1.56 x 2.22 x 2.5 x 2.55 x 2.65 x
EV / EBITDA 6.29 x 7.69 x 2.77 x 3.66 x 5.53 x 6.04 x 5.73 x 5.58 x
EV / FCF -44.1 x 49 x 5.44 x 139 x 2,158 x 67.5 x -20.5 x -13.7 x
FCF Yield -2.27% 2.04% 18.4% 0.72% 0.05% 1.48% -4.87% -7.28%
Price to Book 1.16 x 1.64 x 1.29 x 0.97 x 1.28 x 1.76 x 1.67 x 1.6 x
Nbr of stocks (in thousands) 734,234 736,020 734,987 770,747 773,689 775,649 - -
Reference price 2 5.970 8.872 7.814 6.129 8.177 11.86 11.86 11.86
Announcement Date 2/20/20 2/19/21 2/17/22 2/22/23 2/21/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,893 2,042 3,329 3,041 3,392 4,236 4,286 4,344
EBITDA 1 705.7 856.9 1,869 1,293 1,364 1,752 1,907 2,061
EBIT 1 315.4 409.7 1,273 564.3 530 1,139 1,329 1,302
Operating Margin 16.67% 20.07% 38.23% 18.56% 15.62% 26.89% 31.02% 29.98%
Earnings before Tax (EBT) 1 269.6 341.5 1,245 598.2 531.8 984.8 1,056 1,090
Net income 1 167.3 168.8 780.3 426.9 241.6 467.1 487.9 466.8
Net margin 8.84% 8.27% 23.44% 14.04% 7.12% 11.03% 11.38% 10.75%
EPS 2 0.2300 0.2300 1.060 0.5600 0.3100 0.6200 0.6612 0.5964
Free Cash Flow 1 -100.7 134.7 952.9 33.99 3.495 156.6 -532.6 -838.6
FCF margin -5.32% 6.6% 28.62% 1.12% 0.1% 3.7% -12.43% -19.3%
FCF Conversion (EBITDA) - 15.71% 50.97% 2.63% 0.26% 8.94% - -
FCF Conversion (Net income) - 79.77% 122.11% 7.96% 1.45% 33.51% - -
Dividend per Share 2 0.0905 0.1270 0.3072 0.3470 0.2665 0.2560 0.2684 0.2644
Announcement Date 2/20/20 2/19/21 2/17/22 2/22/23 2/21/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 756.4 1,019 991.1 590.2 648.5 811.4 751.3 588.5 992.2 1,060 920.4 1,025 1,107 1,129 1,086
EBITDA 1 411.3 623 587.8 148.6 202.4 353.7 336.9 162.2 415.1 419.7 308.2 394.1 470.4 495.9 453.8
EBIT 1 284.1 405.9 459 -16.31 -4.695 126.7 183.5 24.24 165.1 157.1 182.6 257.8 352.3 388.2 285.8
Operating Margin 37.56% 39.85% 46.32% -2.76% -0.72% 15.62% 24.42% 4.12% 16.64% 14.82% 19.84% 25.17% 31.82% 34.38% 26.32%
Earnings before Tax (EBT) 1 296.3 393.6 455.3 0.377 -0.479 142.9 214 41.7 106.8 169.4 136.5 205.1 280 293.5 253.3
Net income 1 173.7 228.8 345.1 -52.58 -11.21 145.6 146.6 59.1 -2.964 38.8 71.67 112 137.2 158.9 118.2
Net margin 22.96% 22.46% 34.82% -8.91% -1.73% 17.94% 19.51% 10.04% -0.3% 3.66% 7.79% 10.93% 12.39% 14.08% 10.88%
EPS 2 0.2400 0.3100 0.4700 -0.0700 -0.0100 0.1900 0.1900 0.0800 - 0.0500 0.0776 0.1624 0.2187 0.2578 0.1564
Dividend per Share 2 0.1458 0.0709 0.0701 0.0698 0.0664 0.0664 0.0661 0.0675 0.0648 0.0666 0.0617 0.0589 0.0589 0.0589 0.0511
Announcement Date 10/27/21 2/17/22 4/27/22 7/27/22 10/26/22 2/22/23 5/3/23 8/2/23 11/1/23 2/21/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 58 61.6 - 10.9 1,217 1,378 1,743 2,315
Net Cash position 1 - - 563 - - - - -
Leverage (Debt/EBITDA) 0.0822 x 0.0719 x - 0.008433 x 0.8926 x 0.7866 x 0.9137 x 1.123 x
Free Cash Flow 1 -101 135 953 34 3.5 157 -533 -839
ROE (net income / shareholders' equity) 4.48% 4.36% 18.5% 9.17% 6.85% 9.07% 8.89% 8.84%
ROA (Net income/ Total Assets) 2.6% 2.42% 10.6% 5.4% 2.54% 3.85% 3.44% 2.66%
Assets 1 6,426 6,988 7,347 7,905 9,519 12,137 14,197 17,517
Book Value Per Share 2 5.140 5.420 6.050 6.310 6.410 6.750 7.100 7.400
Cash Flow per Share 2 0.7700 0.7700 2.010 1.150 1.310 1.690 1.780 1.910
Capex 1 665 431 532 843 1,013 1,063 1,494 1,925
Capex / Sales 35.15% 21.12% 15.98% 27.72% 29.87% 25.09% 34.85% 44.31%
Announcement Date 2/20/20 2/19/21 2/17/22 2/22/23 2/21/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Lundin Mining Corporation

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
21
Last Close Price
11.86 USD
Average target price
11.29 USD
Spread / Average Target
-4.81%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Integrated Mining

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Integrated Mining
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