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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Lundin Mining Corporation    LUN   CA5503721063

LUNDIN MINING CORPORATION

(LUN)
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Lundin Mining to Buy Yamana Gold's Total Stake in Copper-Gold Mine Owner for $800 Million

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04/15/2019 | 07:36am EDT

By Allison Prang

Lundin Mining Corp. (LUN.T) is buying Yamana Gold Inc.'s (AUY, YRI.T) complete stake in Mineracao Maraca Industria e Comercio S/A for $800 million in cash, Lundin said Monday.

Mineracao Maraca Industria e Comercio owns the Brazil copper-gold mine called Chapada.

Lundin, which is based in Toronto, also said that Yamana will get a contingent consideration of as much as $125 million over five years if specific thresholds for the price of gold are met. Yamana also will get contingent consideration of $100 million on a pyrite roaster possibly being built, Lundin said.

Yamana will keep a 2% net smelter return "royalty on future gold production from the Suruca gold deposit," Lundin said.

Write to Allison Prang at allison.prang@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) -0.02% 4.1842 Delayed Quote.-5.30%
GOLD -0.01% 1423.796 Delayed Quote.11.14%
LME COPPER CASH 1.98% 6066 End-of-day quote.3.89%
LUNDIN MINING CORPORATION -3.17% 7.03 Delayed Quote.28.72%
YAMANA GOLD INC. 1.08% 3.75 Delayed Quote.15.58%
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Latest news on LUNDIN MINING CORPORATION
07/08LUNDIN MINING : Announces Closing of Acquisition of the Chapada Copper Mine
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07/05LUNDIN MINING : Announces Closing of Acquisition of the Chapada Copper Mine
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07/02LUNDIN MINING : to Release Second Quarter 2019 Results July 24, 2019
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05/23LUNDIN MINING : Announces Sale of Interest in Kokkola Cobalt Refinery
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05/10LUNDIN MINING : Announces Annual Meeting Voting Results
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04/24LUNDIN : 1Q Earnings Snapshot
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More news
Financials (USD)
Sales 2019 1 931 M
EBIT 2019 421 M
Net income 2019 272 M
Debt 2019 204 M
Yield 2019 1,74%
P/E ratio 2019 15,4x
P/E ratio 2020 8,74x
EV / Sales2019 2,14x
EV / Sales2020 1,52x
Capitalization 3 936 M
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Technical analysis trends LUNDIN MINING CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 7,03  $
Last Close Price 5,35  $
Spread / Highest target 57,2%
Spread / Average Target 31,4%
Spread / Lowest Target 0,31%
EPS Revisions
Managers
NameTitle
Marie Inkster President, Chief Executive Officer & Director
Lukas Henrik Lundin Chairman
Peter Richardson Chief Operating Officer & Vice President
Jinhee Magie Chief Financial Officer & Senior Vice President
Stephen T. Gatley Vice President-Technical Services
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