Lundin Mining Corporation

BATS-CHIXE:LUMIS Stock Report

Market Cap: SEK 74.5b

Lundin Mining Valuation

Is LUMIS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of LUMIS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: LUMIS (SEK95.7) is trading below our estimate of fair value (SEK328.13)

Significantly Below Fair Value: LUMIS is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for LUMIS?

Key metric: As LUMIS is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for LUMIS. This is calculated by dividing LUMIS's market cap by their current earnings.
What is LUMIS's PE Ratio?
PE Ratio24.4x
EarningsUS$275.43m
Market CapUS$6.71b

Price to Earnings Ratio vs Peers

How does LUMIS's PE Ratio compare to its peers?

The above table shows the PE ratio for LUMIS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20.5x
ANTO Antofagasta
25.5x18.3%UK£15.7b
ATYM Atalaya Mining
24x39.1%UK£513.8m
CAML Central Asia Metals
8.5x12.6%UK£276.6m
FRES Fresnillo
24x33.8%UK£4.8b
LUMIS Lundin Mining
24.4x38.6%SEK 9.7b

Price-To-Earnings vs Peers: LUMIS is expensive based on its Price-To-Earnings Ratio (24.4x) compared to the peer average (20.5x).

Price to Earnings Ratio vs Industry

How does LUMIS's PE Ratio compare vs other companies in the GB Metals and Mining Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NLMK Novolipetsk Steel
0.8xn/aUS$4.08b
EVR EVRAZ
0.4xn/aUS$1.42b
MTL Metals Exploration
0.9xn/aUS$126.71m
TGR Tirupati Graphite
1.2xn/aUS$10.50m
No more companies available in this PE range
No. of Companies7PE0816243240+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: LUMIS is expensive based on its Price-To-Earnings Ratio (24.4x) compared to the UK Metals and Mining industry average (9.1x).

Price to Earnings Ratio vs Fair Ratio

What is LUMIS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

LUMIS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate LUMIS's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst LUMIS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 95.70
SEK 136.63
+42.8%
12.0%SEK 186.42SEK 112.71n/a19
Dec ’25SEK 108.50
SEK 135.55
+24.9%
14.9%SEK 184.57SEK 75.09n/a20
Nov ’25SEK 104.10
SEK 133.61
+28.3%
14.3%SEK 177.84SEK 72.78n/a20
Oct ’25SEK 105.10
SEK 127.58
+21.4%
12.5%SEK 148.67SEK 72.47n/a19
Sep ’25SEK 104.70
SEK 129.19
+23.4%
13.0%SEK 148.04SEK 72.17n/a19
Aug ’25SEK 105.80
SEK 136.19
+28.7%
13.6%SEK 155.40SEK 73.64n/a19
Jul ’25n/a
SEK 138.28
0%
15.1%SEK 170.60SEK 65.87n/a21
Jun ’25n/a
SEK 134.63
0%
15.0%SEK 155.44SEK 66.02n/a21
May ’25n/a
SEK 125.76
0%
16.3%SEK 159.78SEK 62.24n/a21
Apr ’25n/a
SEK 102.35
0%
18.7%SEK 141.66SEK 50.64n/a21
Mar ’25SEK 82.60
SEK 91.14
+10.3%
15.1%SEK 110.69SEK 48.85n/a20
Feb ’25n/a
SEK 89.20
0%
13.7%SEK 100.65SEK 57.35n/a19
Jan ’25n/a
SEK 85.34
0%
13.2%SEK 99.25SEK 56.51SEK 93.9019
Dec ’24n/a
SEK 85.91
0%
11.1%SEK 99.37SEK 62.23SEK 108.5020
Nov ’24n/a
SEK 94.28
0%
11.7%SEK 106.80SEK 65.21SEK 104.1020
Oct ’24SEK 81.05
SEK 95.85
+18.3%
10.5%SEK 106.45SEK 68.59SEK 105.1020
Sep ’24n/a
SEK 94.49
0%
10.8%SEK 107.04SEK 68.97SEK 104.7021
Aug ’24SEK 91.40
SEK 91.34
-0.07%
10.0%SEK 104.28SEK 68.71SEK 105.8021
Jul ’24SEK 84.30
SEK 89.63
+6.3%
9.6%SEK 103.90SEK 69.09n/a20
Jun ’24SEK 81.30
SEK 87.53
+7.7%
9.7%SEK 104.21SEK 69.33n/a20
May ’24SEK 78.50
SEK 81.67
+4.0%
9.7%SEK 92.52SEK 61.72n/a19
Apr ’24SEK 69.10
SEK 73.68
+6.6%
12.0%SEK 91.75SEK 53.70n/a19
Mar ’24n/a
SEK 74.44
0%
14.2%SEK 99.84SEK 53.87SEK 82.6019
Feb ’24SEK 76.22
SEK 70.21
-7.9%
12.7%SEK 92.82SEK 55.40n/a19
Jan ’24SEK 65.44
SEK 71.28
+8.9%
16.2%SEK 100.14SEK 54.00n/a21

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/06 14:23
End of Day Share Price 2025/01/03 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Lundin Mining Corporation is covered by 57 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Olof GrenmarkABG Sundal Collier
Farooq HamedBarclays
Charlie ClarkBerenberg