Canada's Lundin Mining Q1 revenue rises on higher metal prices

Overview

• Canada copper and gold miner's Q1 revenue rose yr/yr to $1.16 bln

• Adjusted EPS for Q1 was $0.31, up from $0.11 a year earlier

• Company increased Caserones stake and completed Eagle mine sale, advancing copper focus

Outlook

• Lundin Mining reaffirms 2026 guidance for production, cash costs and capital expenditures

• Company expects 2026 copper production of 310–335 kt contained metal and gold production of 134–149 koz contained metal

• Company says rising input costs are not expected to materially impact 2026 cost base

Result Drivers

• HIGHER METAL PRICES - Co said strong realized copper and gold prices drove revenue and earnings growth

• COSTS IMPACTED BY INPUT PRICES - Higher diesel prices and unfavorable foreign exchange modestly increased production costs

Company press release: ID:nCNWbD2dla

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 10 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the diversified mining peer group is "buy"

• Wall Street's median 12-month price target for Lundin Mining Corp is C$40.80, about 20.9% above its May 5 closing price of C$33.75

• The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 25 three months ago

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