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Lundin Mining
(TSX:LUN)
Lundin Mining (LUN) vs. S&P 500 (SPY)
Lundin Mining Business Overview & Revenue Model
Lundin Mining Financial Statement Overview
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 3.42B | 2.74B | 3.04B | 3.33B | 2.04B | Gross Profit |
| 942.86M | 3.74M | 762.57M | 1.37B | 498.12M | EBIT |
| 0.00 | 506.79M | 448.16M | 1.26B | 364.23M | EBITDA |
| 1.12B | 1.05B | 1.00B | 1.78B | 801.27M | Net Income Common Stockholders |
| -203.53M | 241.56M | 426.85M | 780.35M | 168.80M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 407.58M | 268.79M | 191.39M | 594.07M | 141.45M | Total Assets |
| 10.41B | 10.86B | 8.17B | 7.64B | 7.06B | Total Debt |
| 2.01B | 1.76B | 197.33M | 31.00M | 203.05M | Net Debt |
| 1.65B | 1.49B | 5.94M | -563.07M | 61.60M | Total Liabilities |
| 4.89B | 4.44B | 2.75B | 2.64B | 2.56B | Stockholders Equity |
| 4.42B | 4.96B | 4.86B | 4.45B | 3.98B |
| Cash Flow | Free Cash Flow | |||
| 711.55M | 3.50M | 33.99M | 952.86M | 134.65M | Operating Cash Flow |
| 1.52B | 1.02B | 876.89M | 1.48B | 565.89M | Investing Cash Flow |
| -1.01B | -1.67B | -1.01B | -520.01M | -420.98M | Financing Cash Flow |
| -344.23M | 728.59M | -251.63M | -496.64M | -236.93M |
Lundin Mining Technical Analysis
Lundin Mining Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $3.57B | 32.38 | 3.30% | 0.24% | 19.70% | 9.24% | |
61 Neutral | $9.02B | 25.63 | 0.24% | 4.04% | -2.71% | -188.94% | |
58 Neutral | $14.14B | ― | 0.02% | ― | -24.38% | 99.06% | |
57 Neutral | $4.30B | 35.56 | 2.90% | ― | 20.74% | ― | |
57 Neutral | $23.71B | 74.91 | 1.26% | 1.24% | -10.03% | -86.30% | |
47 Neutral | $2.43B | -2.83 | -21.77% | 3.74% | 4.16% | -28.83% |
Lundin Mining Earnings Call Summary
Lundin Mining Corporate Events
Lundin Mining announced a decrease in its issued and outstanding shares to 860,582,665 as of March 31, 2025, due to share buybacks under its normal course issuer bid (NCIB), offset by employee stock options and share units. The company has committed up to US$150 million annually for share buybacks, having already acquired 8,000,000 shares for approximately US$68 million in 2025, reflecting its strategic focus on shareholder value.
Lundin Mining has announced a revised shareholder distribution policy, increasing share buybacks while adjusting dividends to maintain a total annual return of approximately $220 million to shareholders. This strategic shift aims to enhance financial and operational metrics on a per-share basis, reflecting the company’s commitment to balanced shareholder returns through dividends and share buybacks.
Lundin Mining has entered into an exclusivity agreement with Talon Metals Corp. to negotiate an earn-in agreement, allowing it to acquire up to a 70% interest in the Boulderdash exploration properties adjacent to its Eagle Mine in Michigan. This strategic move involves a $5 million advance to Talon and plans to fund up to 30,000 meters of drilling, potentially enhancing Lundin’s stake in the nickel and copper-rich site, thereby strengthening its position in the U.S. mining sector.
Lundin Mining announced a decrease in its issued and outstanding shares by 1,910,500, bringing the total to 865,866,926 shares with voting rights as of February 28, 2025. This change results from share buybacks under the normal course issuer bid, partially offset by employee stock options and share units. This update reflects the company’s ongoing strategic financial management and could impact its market positioning and shareholder value.
Lundin Mining has declared a regular quarterly dividend of CAD $0.09 per share, payable on April 9, 2025, to shareholders of record on March 21, 2025. This decision is part of the company’s ongoing shareholder reward strategy, alongside a share buyback program that saw the recent repurchase of 3,245,000 common shares, valued at approximately CAD $40 million. The company plans to continue monitoring market conditions for further potential purchases, emphasizing strategic financial management and shareholder value enhancement.
Lundin Mining reported strong operational and financial results for the fourth quarter and full year 2024, driven by record copper and zinc production. The formation of Vicuña Corp. is a strategic move to establish Lundin as a leading copper producer, with new mineral resource estimates expected in 2025. Despite a net loss due to non-cash impairments, the company generated substantial free cash flow and aims to reduce debt by selling European assets, Zinkgruvan and Neves-Corvo, by mid-2025.
Lundin Mining announced the appointment of Ms. Victoria McMillan to its Board of Directors, following Ms. Juliana Lam’s decision to retire and not seek re-election. Ms. McMillan, a Chartered Professional Accountant with over 20 years of experience in finance, particularly in the mining and royalty sectors, is expected to bring valuable financial expertise and strategic leadership to the company. Her role is anticipated to aid in guiding Lundin Mining’s growth and enhancing financial stewardship, creating long-term value for stakeholders.
Lundin Mining announced its 2024 Mineral Resource and Reserve estimates, revealing an increase in proven and probable copper reserves by 242 kt, now totaling 10,872 kt. The company is strategically enhancing its operations through acquisitions and exploration, notably with the January acquisition of Filo Corp. alongside BHP, adding substantial resources to its Vicuña portfolio. The proposed divestiture of European assets to Boliden is set to adjust the company’s resource statements upon completion. Efforts at Candelaria and Caserones have offset depletion, while anticipated updates at Vicuña will further bolster Lundin’s resource estimates, positioning the company for significant growth and operational efficiency.
Lundin Mining has updated its share capital and voting rights, increasing the number of issued and outstanding shares to 867,777,426 as of January 31, 2025. This increase is due to the acquisition of Filo Corp. and the exercise of employee stock options, reflecting strategic growth and operational expansion, which could impact stakeholders by boosting company value and market presence.
Lundin Mining received a $3.3 million fine and a continued closure order for its Alcaparrosa mine from Chile’s Superintendencia del Medio Ambiente due to a 2022 sinkhole incident. Despite this setback, the company maintains robust operations at its Candelaria mine and plans to review and determine next steps regarding the alleged environmental permit breach.
Lundin Mining has announced several factors affecting its fourth quarter and full-year 2024 results. These include a negative impact on revenue due to provisional pricing adjustments, particularly in copper sales, and shipment delays of copper concentrate from Caserones. Moreover, the company expects foreign exchange gains due to the weakening of the Brazilian real and Chilean peso against the US dollar. However, this is offset by unrealized losses from foreign exchange and commodity derivative contracts and a write-down of inventory items. Operational challenges have also led to increased overhead costs at its Eagle mine, although normal throughput rates are expected to resume in early 2025.
Lundin Mining announced record production results for 2024, achieving unprecedented levels in copper and zinc outputs. The company also provided guidance for 2025, reflecting changes in production due to strategic divestitures and expansions. Copper production is expected to be between 303,000 to 330,000 tonnes, with a C1 cash cost ranging from $2.05/lb to $2.30/lb. The company plans significant capital expenditures, including $530 million in sustaining capital and $205 million in expansionary capital. These developments underscore Lundin Mining’s strategic focus on maintaining robust operational performance while navigating industry changes.
Lundin Mining has announced the completion of a joint acquisition of Filo Corp with BHP and the formation of Vicuña Corp, a 50/50 joint venture. This strategic alliance aims to develop an emerging copper district, leveraging the proximity of the Filo del Sol and Josemaria projects for potential global ranking. The venture is expected to transform Lundin Mining into a top-tier copper producer, enhancing economies of scale and providing growth opportunities in response to increasing global copper demand.