Lundin Mining’s consensus price target was modestly raised to CA$17.37 as analysts cited improved copper and zinc production, stronger operational performance, supportive commodity prices, and enhanced management execution, partially offset by cautious views due to limited near-term catalysts.
Analyst Commentary
- Bullish analysts cited stronger-than-expected copper and zinc production profiles, improving operational performance, and robust commodity pricing environments as key factors for raising price targets.
- Increased confidence in management’s capital allocation and dividend policy was identified as a positive driver for valuation upside.
- Recent project ramp-ups and cost containment initiatives contributed to higher near-term earnings forecasts, prompting upward revisions from several analysts.
- Some analysts, including JPMorgan, moderated their outlook citing a lack of major near-term catalysts ahead of the Vicuna integrated technical study expected in early 2026, leading to rating downgrades or more cautious stances.
- Sector-wide positive sentiment on metals and mining, combined with Lundin Mining’s stable asset base, was viewed as supportive for incremental target increases, although tempered by neutral ratings from JPMorgan and Morgan Stanley.
What's in the News
- Lundin Mining added to FTSE All-World Index.
- Chilean court ruled Lundin’s subsidiary must remediate sinkhole damage at Alcaparrosa mine, implement water infrastructure for surrounding communities, and transfer certain water rights; Alcaparrosa operations remain suspended and excluded from production guidance.
- Q2 and H1 2025 results showed continuing operations copper, nickel, and gold production up year-over-year, with zinc and copper output from discontinued operations declining sharply.
- Full year 2025 production guidance reaffirmed: copper 303,000–330,000 tonnes, gold 135,000–150,000 ounces, nickel 8,000–11,000 tonnes.
- Share buyback completed with 13,058,800 shares repurchased for $104 million, representing 1.63% of outstanding shares.
Valuation Changes
Summary of Valuation Changes for Lundin Mining
- The Consensus Analyst Price Target remained effectively unchanged, moving only marginally from CA$17.20 to CA$17.37.
- The Consensus Revenue Growth forecasts for Lundin Mining has significantly risen from -0.0% per annum to 0.0% per annum.
- The Future P/E for Lundin Mining has significantly risen from 43.45x to 60.31x.
Disclaimer
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