Lundin Gold Inc. Expected to Earn FY2024 Earnings of $2.08 Per Share (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Investment analysts at Cormark boosted their FY2024 earnings per share (EPS) estimates for shares of Lundin Gold in a research report issued on Thursday, October 10th. Cormark analyst N. Dion now anticipates that the company will post earnings of $2.08 per share for the year, up from their prior forecast of $1.96. 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.

A number of other equities research analysts have also issued reports on LUG. Raymond James lowered Lundin Gold from an “outperform” rating to a “market perform” rating and increased their price target for the stock from C$25.00 to C$29.00 in a research note on Monday, September 23rd. CIBC boosted their price objective on shares of Lundin Gold from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Royal Bank of Canada lifted their price objective on shares of Lundin Gold from C$25.00 to C$27.00 in a research note on Tuesday, September 10th. TD Securities boosted their price target on Lundin Gold from C$24.00 to C$27.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, National Bankshares boosted their price objective on Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$28.33.

Lundin Gold Trading Down 0.2 %

Shares of TSE:LUG opened at C$32.67 on Friday. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$33.34. The company has a market cap of C$7.84 billion, a P/E ratio of 25.33 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The stock’s fifty day moving average price is C$27.60 and its 200-day moving average price is C$22.80.

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

Insiders Place Their Bets

In related news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total transaction of C$459,913.60. In other Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of Lundin Gold stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$29.52, for a total value of C$759,826.78. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the business’s stock in a transaction that occurred on 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 have sold a total of 72,840 shares of company stock worth $2,146,122 in the last quarter. Corporate insiders own 58.72% of the company’s stock.

Lundin Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were issued a $0.551 dividend. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 annualized dividend and a yield of 6.75%. The ex-dividend date was Tuesday, September 10th. 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.