CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.96% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Canada's Lundin Mining Q3 revenue up on copper prices; cuts FY copper production forecast on severe weather

By Reuters News


Overview

  • Canada copper miner's Q3 revenue exceeded $1.1 bln, driven by record copper prices

  • Q3 adjusted EPS was $0.32, net income reached $271.8 mln

  • Company lowered full-year copper production guidance due to weather-related disruptions at Caserones


Outlook

  • Lundin Mining now sees 2026 consolidated copper production at 285,000–310,000 tonnes

  • Caserones 2026 copper production guidance cut to 105,000–115,000 tonnes due to severe weather

  • Company expects 2026 copper cash cost of $1.95/lb–$2.15/lb


Result Drivers

  • COPPER PRICES - Record copper prices contributed to strong Q3 revenue and cash flow

  • PRODUCTION GAINS - Candelaria copper output rose 13% from Q2, Chapada hit highest copper and gold production of 2026

  • WEATHER DISRUPTIONS - Severe winter storms and Super El Niño constrained Caserones mining, prompting further copper production guidance cuts


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$1.11 bln

Q3 Adjusted EPS

$0.32

Q3 EPS

$0.27

Q3 Net Income

$271.80 mln

Q3 Adjusted EBITDA

$647.70 mln

Q3 Free Cash Flow

$311.80 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 12 "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 Corporation is C$41.50, about 38.7% above its November 3 closing price of C$29.91

  • The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 18 three months ago


Reuters Recommended Reads

  • Nov 3 - Canada's Ivanhoe Mines Q3 profit rises, lowers 2027 Kamoa-Kakula copper guidance

  • Nov 3 - SSR Mining Q3 revenue and adjusted net income rise year over year

  • Nov 3 - Hecla Mining's Q3 revenue rises 18%, beats estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.