Financials Lundin Mining Corporation

Equities

LUN

CA5503721063

Diversified Mining

Market Closed - Toronto S.E. 04:00:00 2024-06-07 pm EDT 5-day change 1st Jan Change
15.18 CAD -3.56% Intraday chart for Lundin Mining Corporation -3.13% +40.04%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,383 6,530 5,743 4,724 6,326 8,572 - -
Enterprise Value (EV) 1 4,441 6,591 5,180 4,735 7,543 9,968 10,163 10,670
P/E ratio 26 x 38.6 x 7.37 x 10.9 x 26.4 x 17.1 x 16.6 x 20.7 x
Yield 1.52% 1.43% 3.93% 5.66% 3.26% 2.26% 2.4% 2.37%
Capitalization / Revenue 2.32 x 3.2 x 1.73 x 1.55 x 1.86 x 1.96 x 1.96 x 1.94 x
EV / Revenue 2.35 x 3.23 x 1.56 x 1.56 x 2.22 x 2.28 x 2.32 x 2.42 x
EV / EBITDA 6.29 x 7.69 x 2.77 x 3.66 x 5.53 x 5.22 x 5.12 x 5.18 x
EV / FCF -44.1 x 49 x 5.44 x 139 x 2,158 x 50.6 x -1,815 x -13.2 x
FCF Yield -2.27% 2.04% 18.4% 0.72% 0.05% 1.97% -0.06% -7.58%
Price to Book 1.16 x 1.64 x 1.29 x 0.97 x 1.28 x 1.63 x 1.54 x 1.46 x
Nbr of stocks (in thousands) 734,234 736,020 734,987 770,747 773,689 776,642 - -
Reference price 2 5.970 8.872 7.814 6.129 8.177 11.04 11.04 11.04
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 4,381 4,384 4,412
EBITDA 1 705.7 856.9 1,869 1,293 1,364 1,908 1,985 2,060
EBIT 1 315.4 409.7 1,273 564.3 530 1,291 1,415 1,318
Operating Margin 16.67% 20.07% 38.23% 18.56% 15.62% 29.47% 32.28% 29.87%
Earnings before Tax (EBT) 1 269.6 341.5 1,245 598.2 531.8 1,164 1,149 1,136
Net income 1 167.3 168.8 780.3 426.9 241.6 516.4 499.8 459.2
Net margin 8.84% 8.27% 23.44% 14.04% 7.12% 11.79% 11.4% 10.41%
EPS 2 0.2300 0.2300 1.060 0.5600 0.3100 0.6449 0.6643 0.5326
Free Cash Flow 1 -100.7 134.7 952.9 33.99 3.495 196.8 -5.6 -808.3
FCF margin -5.32% 6.6% 28.62% 1.12% 0.1% 4.49% -0.13% -18.32%
FCF Conversion (EBITDA) - 15.71% 50.97% 2.63% 0.26% 10.32% - -
FCF Conversion (Net income) - 79.77% 122.11% 7.96% 1.45% 38.11% - -
Dividend per Share 2 0.0905 0.1270 0.3072 0.3470 0.2665 0.2497 0.2647 0.2620
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 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 2025 Q2
Net sales 1 1,019 991.1 590.2 648.5 811.4 751.3 588.5 992.2 1,060 937 1,081 1,176 1,213 1,107 1,155
EBITDA 1 623 587.8 148.6 202.4 353.7 336.9 162.2 415.1 419.7 362.9 434 514.4 553 475 518.6
EBIT 1 405.9 459 -16.31 -4.695 126.7 183.5 24.24 165.1 157.1 155.1 280 416.7 448.9 307 349.6
Operating Margin 39.85% 46.32% -2.76% -0.72% 15.62% 24.42% 4.12% 16.64% 14.82% 16.56% 25.89% 35.44% 37% 27.73% 30.26%
Earnings before Tax (EBT) 1 393.6 455.3 0.377 -0.479 142.9 214 41.7 106.8 169.4 109.1 240.2 364.2 409.2 275.2 318.1
Net income 1 228.8 345.1 -52.58 -11.21 145.6 146.6 59.1 -2.964 38.8 13.88 90.86 147 227.3 115.9 138.1
Net margin 22.46% 34.82% -8.91% -1.73% 17.94% 19.51% 10.04% -0.3% 3.66% 1.48% 8.4% 12.5% 18.73% 10.47% 11.96%
EPS 2 0.3100 0.4700 -0.0700 -0.0100 0.1900 0.1900 0.0800 - 0.0500 0.0200 0.1436 0.2248 0.2967 0.1496 0.1782
Dividend per Share 2 0.0709 0.0701 0.0698 0.0664 0.0664 0.0661 0.0675 0.0648 0.0666 - 0.0580 0.0580 0.0580 0.0494 0.0494
Announcement Date 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 5/1/24 - - - - -
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 1,397 1,592 2,098
Net Cash position 1 - - 563 - - - - -
Leverage (Debt/EBITDA) 0.0822 x 0.0719 x - 0.008433 x 0.8926 x 0.732 x 0.8019 x 1.019 x
Free Cash Flow 1 -101 135 953 34 3.5 197 -5.6 -808
ROE (net income / shareholders' equity) 4.48% 4.36% 18.5% 9.17% 6.85% 10.8% 10.3% 10.3%
ROA (Net income/ Total Assets) 2.6% 2.42% 10.6% 5.4% 2.54% 4.48% 4.1% 3.11%
Assets 1 6,426 6,988 7,347 7,905 9,519 11,515 12,189 14,766
Book Value Per Share 2 5.140 5.420 6.050 6.310 6.410 6.750 7.180 7.540
Cash Flow per Share 2 0.7700 0.7700 2.010 1.150 1.310 1.850 1.870 1.940
Capex 1 665 431 532 843 1,013 1,090 1,450 1,815
Capex / Sales 35.15% 21.12% 15.98% 27.72% 29.87% 24.89% 33.09% 41.13%
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

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
21
Last Close Price
11.04 USD
Average target price
12.86 USD
Spread / Average Target
+16.50%
Consensus
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