Q3 Earnings Forecast for Lundin Gold Issued By Cormark

Lundin Gold Inc. (TSE:LUG) – Investment analysts at Cormark issued their Q3 2024 earnings per share estimates for shares of Lundin Gold in a report issued on Wednesday, October 23rd. Cormark analyst N. Dion forecasts that the company will post earnings per share of $0.68 for the quarter. Cormark has a “Hold” rating and a $32.00 price objective on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share.

LUG has been the subject of a number of other research reports. National Bank Financial raised shares of Lundin Gold from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 7th. National Bankshares upped their price target on Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Royal Bank of Canada raised their price objective on Lundin Gold from C$25.00 to C$27.00 in a research report on Tuesday, September 10th. CIBC upped their target price on Lundin Gold from C$28.00 to C$34.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Finally, Raymond James cut Lundin Gold from an “outperform” rating to a “market perform” rating and increased their price target for the company from C$25.00 to C$29.00 in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$29.42.

Lundin Gold Stock Performance

LUG stock opened at C$34.19 on Friday. Lundin Gold has a one year low of C$14.23 and a one year high of C$35.89. The firm has a market cap of C$8.21 billion, a price-to-earnings ratio of 26.50 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98. The firm has a 50-day simple moving average of C$29.67 and a two-hundred day simple moving average of C$23.85.

Lundin Gold (TSE:LUG) last issued its quarterly earnings data on Thursday, August 8th. The company reported C$0.55 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). The company had revenue of C$412.43 million for the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%.

Insider Buying and Selling

In related news, Senior Officer Chester See sold 14,900 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total value of C$448,490.00. In related news, Senior Officer Terrence Smith sold 25,740 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$29.52, for a total transaction of C$759,826.78. Also, Senior Officer Chester See sold 14,900 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total transaction of C$448,490.00. Insiders sold 72,840 shares of company stock valued at $2,146,122 over the last quarter. 58.72% of the stock is currently owned by company insiders.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were issued a dividend of $0.551 per share. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.45%. Lundin Gold’s payout ratio is 82.95%.

About Lundin Gold

Lundin Gold Inc operates as a mining company in Canada. The company holds interests in 28 metallic mineral concessions and three construction material concessions covering an area of approximately 64,454 hectares located in Southeast Ecuador. It primary holds 100% interests in the Fruta del Norte gold project that comprising seven concessions covering an area of approximately 5,566 hectares located near the city of Loja in Ecuador.