Lundin Mining expands buybacks. Lundin Mining stock sits 23.52 percent below its high

Published on 10/07/2026 at 06:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Lundin Mining added US$100 million to its 2026 buyback program. Lundin Mining stock sits 23.52 percent below its CAD 45.74 high.

LUN, CA5503721063, Illustration mit AI erstellt.

Lundin Mining Corporation (ISIN CA5503721063) approved up to US$100 million in additional share-buyback capacity for the remainder of 2026. The decision was disclosed in the company's September 30, 2026 release, which also reported 6,098,494 shares acquired during 2026 at an average cost of C$35.70.

Buyback capacity expands

According to Lundin Mining on September 30, 2026, the board increased the buyback program by up to US$100 million through the end of 2026, on top of a shareholder distribution policy allowing up to US$150 million in annual buybacks.

The share count nevertheless rose by 22,173 to 851,359,558 common shares as of September 30, 2026, because employee stock options were exercised or share units vested. That creates a clear distinction between the program's authorization and the net share count at the reporting date.

Quarterly cash flow remains central

According to Yahoo Finance in the August 6, 2026 earnings call transcript, Lundin Mining generated more than US$1.2 billion in second-quarter 2026 revenue and US$658 million in adjusted EBITDA.

Adjusted operating cash flow reached US$495 million in the second quarter of 2026, while free cash flow after working capital and capital investments totaled US$265 million. Adjusted earnings attributable to shareholders were US$257 million, or US$0.30 per share, giving the buyback expansion a measurable cash-flow backdrop.

Targets split around CAD 40

As Yahoo Finance reported on October 4, 2026, updated fair value moved from CA$41.45 to CA$42.54. The same report said Scotiabank lifted its target from C$42 to C$44 while JPMorgan carried a C$32 target and an Underweight rating.

That spread puts execution risk beside the capital-return story. Simply Wall St reported that severe winter storms affected the Caserones mine and contributed to lower 2026 copper production guidance.

TSX price below yearly high

On October 6, 2026, LUN.TO stood at CAD 34.98 on the Toronto Stock Exchange, versus a prior close of CAD 35.10. The price was 23.52 percent below the CAD 45.74 52-week high, while the company listed November 4, 2026 as the date for releasing third-quarter 2026 financial results, according to Lundin Mining.