11:52 AM EST, 02/20/2025 (MT Newswires) -- (Updates shares.)

Lundin Mining ( LUNMF ) late on Wednesday reported higher fourth-quarter adjusted earnings from all operations and met copper guidance for the second consecutive year.

Adjusted earnings from all operations, excluding most one-time items, came in at US$119.2 million, or US$0.15 per share, up from US$79.7 million, or US$0.10 per share. The FactSet consensus estimate for the measure was US$0.15.

Revenue fell to US$858.9 million, down from US$893.4 million. Adjusted EBITDA rose to US$425.6 million from US$419.7 million.

Lundin produced 101,491 tonnes of copper, down from 103,337 tonnes. Zinc production rose to 51,946 tonnes from 50,719 tonnes. Gold production increased to 46,000 ounces from 44,000 ounces. Nickel production fell to 1,617 tonnes from 3,729 tonnes.

Separately, the company declared a regular quarterly dividend of C$0.09 per share, payable April 9 to shareholders of record at the close of business on March 21.

Lundin also appointed Victoria McMillan to the company's board of directors, effective Wednesday. Juliana Lam has notified the company of her retirement decision and will not stand for re-election at the 2025 annual meeting.

Lundin shares were last seen up $0.42 to $12.73 on the Toronto Stock Exchange.

Price: 12.69, Change: +0.38, Percent Change: +3.09