Raymond James Predicts Increased Earnings for Lundin Gold

Lundin Gold Inc. (TSE:LUG) – Equities research analysts at Raymond James increased their FY2024 EPS estimates for Lundin Gold in a report released on Monday, October 28th. Raymond James analyst C. Stanley now expects that the company will post earnings of $2.10 per share for the year, up from their prior forecast of $2.09. Raymond James has a “Market Perform” rating and a $29.00 price objective on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share. Raymond James also issued estimates for Lundin Gold’s Q1 2025 earnings at $0.62 EPS and FY2025 earnings at $2.50 EPS.

Lundin Gold (TSE:LUG) last posted 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). Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The firm had revenue of C$412.43 million for the quarter.

LUG has been the subject of a number of other reports. Cormark boosted their target price on shares of Lundin Gold from C$27.00 to C$32.00 and gave the company a “hold” rating in a research note on Thursday, October 10th. Royal Bank of Canada boosted their target price on shares of Lundin Gold from C$25.00 to C$27.00 in a research note on Tuesday, September 10th. Scotiabank boosted their target price on shares of Lundin Gold from C$23.50 to C$25.50 in a research note on Monday, August 19th. Canaccord Genuity Group lowered shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, National Bank Financial raised shares of Lundin Gold from a “hold” rating to a “strong-buy” rating in a research note on Sunday, July 7th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lundin Gold currently has a consensus rating of “Moderate Buy” and an average target price of C$29.42.

Lundin Gold Trading Down 1.5 %

LUG stock opened at C$33.67 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$35.89. The stock has a market capitalization of C$8.08 billion, a price-to-earnings ratio of 25.91 and a beta of 1.23. The firm’s fifty day simple moving average is C$30.09 and its two-hundred day simple moving average is C$24.21.

Insider Buying and Selling

In other Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$29.52, for a total transaction of C$759,826.78. In other Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of the stock in a transaction dated 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 Sheila Margaret Colman sold 16,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total transaction of C$459,913.60. Insiders sold a total of 72,840 shares of company stock valued at $2,146,122 over the last three months. 58.72% of the stock is owned by company insiders.

Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were paid a $0.551 dividend. The ex-dividend date was Tuesday, September 10th. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 dividend on an annualized basis and a yield of 6.55%. Lundin Gold’s dividend 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.