FY2024 EPS Estimates for Lundin Gold Boosted by Desjardins

Lundin Gold Inc. (TSE:LUG) – Desjardins raised their FY2024 earnings estimates for shares of Lundin Gold in a research report issued to clients and investors on Wednesday, January 8th. Desjardins analyst A. Carson now forecasts that the company will earn $2.67 per share for the year, up from their prior estimate of $2.36. Desjardins has a “Moderate Buy” rating on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share. Desjardins also issued estimates for Lundin Gold’s FY2026 earnings at $3.05 EPS and FY2027 earnings at $2.63 EPS.

Lundin Gold (TSE:LUG) last posted its quarterly earnings data 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. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The company had revenue of C$440.77 million during the quarter.

LUG has been the topic of several other research reports. Scotiabank cut their target price on Lundin Gold from C$31.50 to C$30.00 in a research report on Tuesday, December 10th. TD Securities increased their price target on Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. BMO Capital Markets downgraded shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. Royal Bank of Canada boosted their target price on shares of Lundin Gold from C$27.00 to C$31.00 in a research report on Friday, December 6th. Finally, Canaccord Genuity Group cut shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lundin Gold has an average rating of “Moderate Buy” and a consensus price target of C$33.15.

Lundin Gold Stock Performance

Shares of LUG opened at C$33.84 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28. The firm’s fifty day simple moving average is C$32.01 and its two-hundred day simple moving average is C$28.73. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$35.89. The stock has a market capitalization of C$8.12 billion, a P/E ratio of 26.23 and a beta of 1.23.

Insider Transactions at Lundin Gold

In related news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total transaction of C$355,001.16. 58.72% of the stock is currently owned by insiders.

Lundin Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Thursday, December 5th. Lundin Gold’s dividend payout ratio is currently 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.