Lundin Mining (TSE:LUN)
TSX:LUN
Earnings Data
Report Date
May 06, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.44Last Year’s EPS
0.15Same Quarter Last Year
Moderate Buy
Based on 17 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive operational and financial year: record revenue and EBITDA, doubled copper resource base, consistent delivery to guidance, improved cathode production, robust realized prices and strengthened balance sheet with enhanced financing flexibility. The company also articulated a clear, sizable growth pipeline (Vicuña, Saíva and Chapada mill upgrade) and continued shareholder returns. Offsetting items included one-off Q4 cost charges related to union agreements, working capital build that dented near-term cash flow, timing-related shipment delays, and the execution and funding requirements for large growth projects. Overall, the breadth and magnitude of the achievements and the strengthened financing optionality materially outweigh the manageable near-term cost and timing challenges.Company Guidance
Record Revenue and EBITDA
Full-year 2025 record revenue of approximately $4.5 billion (including discontinued operations) and adjusted EBITDA of $1.9 billion from continuing operations; adjusted operating cash flow from continuing operations of over $1.6 billion for the year.
Material Increase in Attributable Resources
Updated reserves and resources show contained metal of over 35 million tonnes of copper, over 60 million ounces of gold and over 960 million ounces of silver — effectively doubling the company's copper resource base (≈100% increase) and significantly increasing gold and silver inventory.
Strong Production Performance and Guidance Execution
Consolidated copper production of 331,000 tonnes for 2025 (including Eagle); company met or exceeded revised guidance across all consolidated metals and met copper guidance for the third consecutive year. Key site outputs: Candelaria ~145,000 t Cu, Caserones ~133,000 t Cu, Chapada ~44,000 t Cu.
Improved Cathode Production and Upside
Caserones copper cathode production increased to 25,800 tonnes in 2025 with a new annual forecast of ~26,000–28,000 tonnes for 2026–2028 (an increase of ~6,000–8,000 tonnes versus prior levels). Q4 2025 cathode trends drove higher near-term copper volumes.
Strong Realized Prices and Positive Pricing Adjustments
Realized copper price in Q4 of $5.89/lb (above LME quarterly average of $5.03/lb); full-year realized copper price of $4.91/lb (above annual LME average of $4.51/lb). Pricing adjustments on prior period concentrate sales added $83 million to Q4 revenue.
Disciplined Cost Performance
Full-year consolidated cash cost of $1.87 per lb (below the bottom end of original guidance). Chapada full-year cash cost outperformed guidance at $0.75/lb (versus guidance $0.90–$1.00/lb); Caserones full-year cash cost $2.17/lb toward the bottom end of guidance.
Balance Sheet Strengthening & Financing Optionality
Sale of European assets and operating cash flows materially strengthened the balance sheet; company announced intent to upsize revolving credit facility from $1.75 billion to $4.5 billion (increase of $2.75 billion) to fund growth, including Vicuña; ended year with net cash position of $77 million (excluding capital leases).
Shareholder Returns and Capital Allocation
Declared 39th consecutive quarterly dividend, paid $106 million in dividends during 2025, repurchased 15.1 million shares and returned a total of $256 million to shareholders through dividends and buybacks; free cash flow and returns maintained while pursuing growth.
Progress on Growth Pipeline (Vicuña, Saíva, Chapada Mill Upgrade)
Vicuña integrated technical study shows a potential district-scale producer (>500k t Cu, 800k oz Au, 20M oz Ag annually at full capacity) with first-quartile cash cost profile; Saíva PFS completed with ball mill installation planned (expected to add ~17,000 tpa Cu incremental), and Chapada plant upgrade (additional ball mill) targeted for commissioning near end of 2027. Expansionary CapEx for growth forecast at $445 million (includes 50% of Vicuña JV spend).
Safety and Operational Reliability
Safety culture improvements led to the lowest total recordable injury frequency rate in company history; Candelaria achieved ~95% mill availability and stable processing (≈32 million tonnes processed in the year).
TSE:LUN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TSE:LUN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 19, 2026 | C$35.63 | C$39.51 | +10.91% |
Nov 05, 2025 | C$22.64 | C$24.45 | +7.98% |
Aug 06, 2025 | C$14.36 | C$14.11 | -1.73% |
May 07, 2025 | C$11.77 | C$11.60 | -1.44% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Lundin Mining (TSE:LUN) report earnings?
Lundin Mining (TSE:LUN) is schdueled to report earning on May 06, 2026, TBA (Confirmed).
What is Lundin Mining (TSE:LUN) earnings time?
Lundin Mining (TSE:LUN) earnings time is at May 06, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What is TSE:LUN EPS forecast?
TSE:LUN EPS forecast for the fiscal quarter 2026 (Q1) is 0.44.