Lundin Mining Corporation

LSE:0RQ9 Stock Report

Market Cap: SEK 70.0b

Lundin Mining Valuation

Is 0RQ9 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0RQ9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
SEK 8.95
Fair Value
826.7% overvalued intrinsic discount
21
Number of Analysts

Below Fair Value: 0RQ9 (SEK82.95) is trading above our estimate of fair value (SEK8.95)

Significantly Below Fair Value: 0RQ9 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0RQ9?

Key metric: As 0RQ9 is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 0RQ9. This is calculated by dividing 0RQ9's market cap by their current revenue.
What is 0RQ9's PS Ratio?
PS Ratio2.2x
SalesUS$3.42b
Market CapUS$7.30b

Price to Sales Ratio vs Peers

How does 0RQ9's PS Ratio compare to its peers?

The above table shows the PS ratio for 0RQ9 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.4x
ANTO Antofagasta
3.4x8.6%UK£16.7b
ATYM Atalaya Mining Copper
1.9x14.6%UK£536.3m
CAML Central Asia Metals
1.7x-1.7%UK£272.4m
FRES Fresnillo
2.8x-1.4%UK£7.4b
0RQ9 Lundin Mining
2.2x2.0%SEK 10.1b

Price-To-Sales vs Peers: 0RQ9 is good value based on its Price-To-Sales Ratio (2.2x) compared to the peer average (2.4x).

Price to Sales Ratio vs Industry

How does 0RQ9's PS Ratio compare vs other companies in the GB Metals and Mining Industry?

13 CompaniesPrice / SalesEstimated GrowthMarket Cap
GLEN Glencore
0.2x0.4%US$42.95b
NLMK Novolipetsk Steel
0.3xn/aUS$4.08b
EVR EVRAZ
0.1x-8.5%US$1.42b
PDL Petra Diamonds
0.2x7.1%US$71.23m
0RQ9 2.2xIndustry Avg. 1.9xNo. of Companies13PS01.22.43.64.86+
13 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 0RQ9 is expensive based on its Price-To-Sales Ratio (2.2x) compared to the UK Metals and Mining industry average (1.8x).

Price to Sales Ratio vs Fair Ratio

What is 0RQ9's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0RQ9 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.2x
Fair PS Ratio2.4x

Price-To-Sales vs Fair Ratio: 0RQ9 is good value based on its Price-To-Sales Ratio (2.2x) compared to the estimated Fair Price-To-Sales Ratio (2.4x).

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 0RQ9 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 82.95
SEK 101.96
+22.9%
13.7%SEK 127.36SEK 78.27n/a21
Apr ’26SEK 82.70
SEK 109.29
+32.2%
11.8%SEK 132.97SEK 82.36n/a19
Mar ’26SEK 86.20
SEK 117.12
+35.9%
11.9%SEK 144.01SEK 88.49n/a18
Feb ’26SEK 90.16
SEK 121.53
+34.8%
10.4%SEK 145.55SEK 94.97n/a18
Jan ’26SEK 94.20
SEK 132.13
+40.3%
8.6%SEK 155.75SEK 111.64n/a19
Dec ’25SEK 106.35
SEK 132.94
+25.0%
13.0%SEK 158.08SEK 75.09n/a19
Nov ’25SEK 104.91
SEK 131.27
+25.1%
12.7%SEK 155.92SEK 72.78n/a19
Oct ’25SEK 105.90
SEK 127.57
+20.5%
12.5%SEK 148.67SEK 72.47n/a19
Sep ’25SEK 105.36
SEK 129.18
+22.6%
13.1%SEK 148.04SEK 72.17n/a19
Aug ’25SEK 106.75
SEK 136.17
+27.6%
13.6%SEK 155.40SEK 73.64n/a19
Jul ’25SEK 120.60
SEK 138.28
+14.7%
15.1%SEK 170.60SEK 65.87n/a21
Jun ’25SEK 124.09
SEK 134.63
+8.5%
15.0%SEK 155.44SEK 66.02n/a21
May ’25SEK 123.70
SEK 125.76
+1.7%
16.3%SEK 159.78SEK 62.24n/a21
Apr ’25SEK 106.80
SEK 102.35
-4.2%
18.7%SEK 141.66SEK 50.64SEK 82.7021
Mar ’25SEK 82.24
SEK 91.14
+10.8%
15.1%SEK 110.69SEK 48.85SEK 86.2020
Feb ’25SEK 85.26
SEK 89.20
+4.6%
13.7%SEK 100.65SEK 57.35SEK 90.1619
Jan ’25SEK 81.86
SEK 85.34
+4.3%
13.2%SEK 99.25SEK 56.51SEK 94.2019
Dec ’24SEK 73.80
SEK 85.91
+16.4%
11.1%SEK 99.37SEK 62.23SEK 106.3520
Nov ’24SEK 69.60
SEK 94.28
+35.5%
11.7%SEK 106.80SEK 65.21SEK 104.9120
Oct ’24SEK 81.83
SEK 95.85
+17.1%
10.5%SEK 106.45SEK 68.59SEK 105.9020
Sep ’24SEK 85.75
SEK 94.49
+10.2%
10.8%SEK 107.04SEK 68.97SEK 105.3621
Aug ’24SEK 92.76
SEK 91.34
-1.5%
10.0%SEK 104.28SEK 68.71SEK 106.7521
Jul ’24SEK 84.41
SEK 89.63
+6.2%
9.6%SEK 103.90SEK 69.09SEK 120.6020
Jun ’24SEK 78.25
SEK 87.53
+11.9%
9.7%SEK 104.21SEK 69.33SEK 124.0920
May ’24SEK 77.74
SEK 81.67
+5.1%
9.7%SEK 92.52SEK 61.72SEK 123.7019
Apr ’24SEK 69.00
SEK 73.68
+6.8%
12.0%SEK 91.75SEK 53.70SEK 106.8019
AnalystConsensusTarget
Consensus Narrative from 21 Analysts
SEK 101.54
Fair Value
18.3% undervalued intrinsic discount
21
Number of Analysts

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 Analysis2025/04/24 06:16
End of Day Share Price 2025/04/24 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Lundin Mining Corporation is covered by 59 analysts. 17 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