Scotiabank Issues Negative Forecast for Lundin Gold Earnings

Lundin Gold Inc. (TSE:LUG) – Investment analysts at Scotiabank decreased their FY2024 earnings per share estimates for shares of Lundin Gold in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Habib now anticipates that the company will earn $1.67 per share for the year, down from their previous estimate of $1.85. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share. Scotiabank also issued estimates for Lundin Gold’s FY2025 earnings at $1.74 EPS and FY2026 earnings at $2.01 EPS.

Lundin Gold (TSE:LUG) last issued its earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share for the quarter, topping the consensus estimate of C$0.60 by C$0.16. The company had revenue of C$440.77 million during the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%.

A number of other research analysts have also recently commented on the stock. Cormark raised shares of Lundin Gold from a “market perform” rating to a “buy” rating and boosted their target price for the stock from C$35.00 to C$38.00 in a research report on Friday. CIBC boosted their price objective on shares of Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. Desjardins upgraded Lundin Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group lowered Lundin Gold from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada increased their price target on Lundin Gold from C$27.00 to C$31.00 in a report on Friday, December 6th. Five 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$33.15.

Lundin Gold Stock Up 3.0 %

TSE LUG opened at C$33.84 on Friday. 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 fifty-two week low of C$14.23 and a fifty-two week high of C$35.89. The business has a 50 day moving average price of C$32.00 and a two-hundred day moving average price of C$28.64. The stock has a market cap of C$8.12 billion, a PE ratio of 26.23 and a beta of 1.23.

Insider Activity

In other news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total value of C$355,001.16. Company insiders own 58.72% of the company’s stock.

Lundin Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were given a $0.20 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.36%. 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.