Financials Lundin Mining Corporation Börse Stuttgart

Equities

GXD

CA5503721063

Diversified Mining

Real-time Estimate Tradegate Other stock markets 06:12:26 2024-07-16 am EDT			5-day change	1st Jan Change
10.54 ^EUR	-1.22%		+0.38%	+43.99%

Jul. 15	Global markets live: Airbus, Burberry, AT&T, Boeing, Vinfast...
Jul. 15	Lundin and Filo Brief: National Has Outperform Rating and C$18.50 Target on Lundin	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	4,383	6,530	5,743	4,724	6,326	8,937	-	-
Enterprise Value (EV) ¹	4,441	6,591	5,180	4,735	7,543	10,467	10,632	11,429
P/E ratio	26 x	38.6 x	7.37 x	10.9 x	26.4 x	15.8 x	14.6 x	14.8 x
Yield	1.52%	1.43%	3.93%	5.66%	3.26%	2.16%	2.35%	2.28%
Capitalization / Revenue	2.32 x	3.2 x	1.73 x	1.55 x	1.86 x	2 x	2.01 x	1.99 x
EV / Revenue	2.35 x	3.23 x	1.56 x	1.56 x	2.22 x	2.34 x	2.39 x	2.55 x
EV / EBITDA	6.29 x	7.69 x	2.77 x	3.66 x	5.53 x	5.25 x	5.23 x	5.4 x
EV / FCF	-44.1 x	49 x	5.44 x	139 x	2,158 x	41.3 x	108 x	-20.9 x
FCF Yield	-2.27%	2.04%	18.4%	0.72%	0.05%	2.42%	0.92%	-4.78%
Price to Book	1.16 x	1.64 x	1.29 x	0.97 x	1.28 x	1.67 x	1.52 x	1.4 x
Nbr of stocks (in thousands)	734,234	736,020	734,987	770,747	773,689	776,756	-	-
Reference price ²	5.970	8.872	7.814	6.129	8.177	11.51	11.51	11.51
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	4,468	4,441	4,487
EBITDA ¹	705.7	856.9	1,869	1,293	1,364	1,994	2,032	2,118
EBIT ¹	315.4	409.7	1,273	564.3	530	1,312	1,437	1,381
Operating Margin	16.67%	20.07%	38.23%	18.56%	15.62%	29.37%	32.35%	30.79%
Earnings before Tax (EBT) ¹	269.6	341.5	1,245	598.2	531.8	1,193	1,235	1,251
Net income ¹	167.3	168.8	780.3	426.9	241.6	569.2	594.6	609.8
Net margin	8.84%	8.27%	23.44%	14.04%	7.12%	12.74%	13.39%	13.59%
EPS ²	0.2300	0.2300	1.060	0.5600	0.3100	0.7279	0.7897	0.7786
Free Cash Flow ¹	-100.7	134.7	952.9	33.99	3.495	253.2	98.11	-546.4
FCF margin	-5.32%	6.6%	28.62%	1.12%	0.1%	5.67%	2.21%	-12.18%
FCF Conversion (EBITDA)	-	15.71%	50.97%	2.63%	0.26%	12.7%	4.83%	-
FCF Conversion (Net income)	-	79.77%	122.11%	7.96%	1.45%	44.48%	16.5%	-
Dividend per Share ²	0.0905	0.1270	0.3072	0.3470	0.2665	0.2484	0.2706	0.2622
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	1,147	1,185	1,254	1,219	1,223
EBITDA ¹	623	587.8	148.6	202.4	353.7	336.9	162.2	415.1	419.7	362.9	522.5	554.3	583.2	446	453
EBIT ¹	405.9	459	-16.31	-4.695	126.7	183.5	24.24	165.1	157.1	155.1	377.3	436.9	499.5	421.9	421.2
Operating Margin	39.85%	46.32%	-2.76%	-0.72%	15.62%	24.42%	4.12%	16.64%	14.82%	16.56%	32.89%	36.86%	39.84%	34.62%	34.45%
Earnings before Tax (EBT) ¹	393.6	455.3	0.377	-0.479	142.9	214	41.7	106.8	169.4	109.1	320.5	419.8	482.7	389.1	389.2
Net income ¹	228.8	345.1	-52.58	-11.21	145.6	146.6	59.1	-2.964	38.8	13.88	158.2	218.2	321.4	197	197.5
Net margin	22.46%	34.82%	-8.91%	-1.73%	17.94%	19.51%	10.04%	-0.3%	3.66%	1.48%	13.78%	18.41%	25.64%	16.17%	16.15%
EPS ²	0.3100	0.4700	-0.0700	-0.0100	0.1900	0.1900	0.0800	-	0.0500	0.0200	0.2180	0.2658	0.3724	0.2221	0.2174
Dividend per Share ²	0.0709	0.0701	0.0698	0.0664	0.0664	0.0661	0.0675	0.0648	0.0666	0.0654	0.0607	0.0581	0.0581	0.0495	0.0495
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	1,530	1,695	2,493
Net Cash position ¹	-	-	563	-	-	-	-	-
Leverage (Debt/EBITDA)	0.0822 x	0.0719 x	-	0.008433 x	0.8926 x	0.7675 x	0.8343 x	1.177 x
Free Cash Flow ¹	-101	135	953	34	3.5	253	98.1	-546
ROE (net income / shareholders' equity)	4.48%	4.36%	18.5%	9.17%	6.85%	11.2%	11.2%	10.5%
ROA (Net income/ Total Assets)	2.6%	2.42%	10.6%	5.4%	2.54%	5.02%	5.57%	4.48%
Assets ¹	6,426	6,988	7,347	7,905	9,519	11,341	10,680	13,611
Book Value Per Share ²	5.140	5.420	6.050	6.310	6.410	6.900	7.590	8.240
Cash Flow per Share ²	0.7700	0.7700	2.010	1.150	1.310	1.900	1.900	1.940
Capex ¹	665	431	532	843	1,013	1,090	1,448	1,813
Capex / Sales	35.15%	21.12%	15.98%	27.72%	29.87%	24.4%	32.61%	40.41%
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

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

11.51 USD

Average target price

13.26 USD

Spread / Average Target

+15.28%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Integrated Mining

	1st Jan change	Capi.
BHP GROUP LIMITED	-14.54%	150B
RIO TINTO PLC	-13.61%	115B
GLENCORE PLC	-1.85%	74.37B
GRUPO MÉXICO, S.A.B. DE C.V.	+16.02%	47.81B
SAUDI ARABIAN MINING COMPANY (MA'ADEN)	-8.55%	43.48B
ANGLO AMERICAN PLC	+18.82%	37.24B
HINDUSTAN ZINC LIMITED	+108.07%	33.35B
TECK RESOURCES LIMITED	+22.10%	25.95B
VEDANTA LIMITED	+76.27%	20.39B

Integrated Mining