Update shared on04 Sep 2025
Fair value Increased 0.31%Analysts have slightly raised Lundin Mining's price target to CA$17.20, citing improved copper price outlooks, stronger-than-expected operational performance, and continued cost discipline, though some near-term uncertainty from project delays has limited further upside.
Analyst Commentary
- Bullish analysts have cited improving base metal price outlooks, particularly for copper, as a key factor driving upward price target revisions.
- Recent operational performance and production results from Lundin Mining's key assets, especially higher-than-expected output, have supported increased valuations.
- Optimism around cost discipline and efficiency initiatives has contributed to bullish sentiment reflected in target price hikes.
- Delays or uncertainty regarding the Vicuna integrated technical study, with limited near-term catalysts until its publication, have tempered some upside expectations, leading to at least one target cut and rating downgrade.
- Positive views reflect a generally constructive sector backdrop and incremental improvements in Lundin Mining's strategic positioning, despite some analysts maintaining neutral stances.
What's in the News
- Lundin Mining reaffirmed full-year 2025 production guidance: copper 303,000–330,000 tonnes, gold 135,000–150,000 ounces, nickel 8,000–11,000 tonnes.
- Q2 2025 production (continuing operations): copper 80,073 tonnes (up year-over-year), nickel 2,713 tonnes, gold 38,118 ounces, with declines in molybdenum and discontinued zinc/copper operations.
- Q2 2025 revenue negatively impacted by provisional pricing adjustments on prior copper sales (~$6 million downward pre-tax), partly offset by positive gold adjustments.
- Completed share repurchase of 13,058,800 shares (1.63% of shares outstanding) for $104 million under the current buyback program.
- Filed NI 43-101 technical report confirming Vicuna Project as one of the world’s largest greenfield copper discoveries, enabling joint development of nearby deposits for economies of scale and staged expansion.
Valuation Changes
Summary of Valuation Changes for Lundin Mining
- The Consensus Analyst Price Target remained effectively unchanged, moving only marginally from CA$17.15 to CA$17.20.
- The Future P/E for Lundin Mining has significantly risen from 43.26x to 59.96x.
- The Consensus Revenue Growth forecasts for Lundin Mining has risen from -0.0% per annum to -0.0% per annum.
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