In This Article:
Lundin Mining (TSE:LUN) Full Year 2024 Results
Key Financial Results
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Revenue: US$3.42b (up 25% from FY 2023).
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Net income: US$11.1m (down 95% from FY 2023).
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Profit margin: 0.3% (down from 7.4% in FY 2023).
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EPS: US$0.014 (down from US$0.26 in FY 2023).
LUN Production and Reserves
Copper
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Production: 0.25 Mt (0.22 Mt in FY 2023)
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Proved and probable reserves (ore): 3,391 Mt (3,179 Mt in FY 2023)
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Number of mines: 4 (6 in FY 2023)
Zinc
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Production: 0.192 Mt (0.185 Mt in FY 2023)
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Proved and probable reserves (ore): 50.07 Mt (53.82 Mt in FY 2023)
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Number of mines: 2 (2 in FY 2023)
Gold
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Production: 139.4 troy koz (131 troy koz in FY 2023)
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Proved and probable reserves (ore): 2,466 Mt (2,269 Mt in FY 2023)
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Number of mines: 2 (2 in FY 2023)
All figures shown in the chart above are for the trailing 12 month (TTM) period
Lundin Mining Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) also missed analyst estimates by 161%.
The primary driver behind last 12 months revenue was the Candelaria - Chile segment contributing a total revenue of US$1.62b (47% of total revenue). Notably, cost of sales worth US$1.91b amounted to 56% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling US$769.7m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how LUN's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Metals and Mining industry in Canada.
Performance of the Canadian Metals and Mining industry.
The company's shares are down 2.8% from a week ago.
Risk Analysis
It's still necessary to consider the ever-present spectre of investment risk. We've identified 3 warning signs with Lundin Mining, and understanding them should be part of your investment process.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.