Lundin Mining is a Canadian/Swedish base-metals mining company producing copper (63%), nickel (15%), zinc (15%), and gold (5%). It generated $3 billion in revenues in 2022 from mines located in the US, Chile, Brazil, Argentina, Portugal, and Finland. Controlled by the Swedish Lundin family, which has a long track record in oil and gas, Lundin Mining has grown steadily by acquisition over the last decade. Its moves included buying the Eagle nickel mine in Michigan for $315 million in 2014 and the Josemaria copper gold project in Argentina last year for $485 million.
Wealth Builder
Sorry, you do not have access to this content.Income Investor
Sorry, you do not have access to this content.Lundin pays a quarterly dividend of $0.09 per share, equivalent to a 3.3% dividend yield, which has more than doubled in the last three years. It also pays a semi-annual performance-based dividend, the most recent of which were $0.09 in September and $0.11 in the first quarter, which gave a Lundin a trailing dividend yield of 5.65%. Dividends are eligible for the Canadian dividend tax credit in non-registered accounts. - Gavin Graham
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Buy
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LUN was first recommended here on July 14, 2014