Q3 EPS Estimates for Lundin Gold Increased by Analyst

Lundin Gold Inc. (TSE:LUG) – Analysts at National Bank Financial boosted their Q3 2024 earnings per share (EPS) estimates for shares of Lundin Gold in a research note issued to investors on Tuesday, October 22nd. National Bank Financial analyst D. Demarco now forecasts that the company will post earnings per share of $0.70 for the quarter, up from their previous forecast of $0.64. National Bank Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share.

Several other analysts have also weighed in on LUG. National Bankshares raised their price objective on shares of Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Scotiabank lifted their price objective on Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th. Cormark boosted their price objective on Lundin Gold from C$27.00 to C$32.00 and gave the stock a “hold” rating in a research note on Thursday, October 10th. CIBC raised their target price on Lundin Gold from C$28.00 to C$34.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada lifted their price target on Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lundin Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of C$29.42.

Lundin Gold Trading Down 1.4 %

Shares of Lundin Gold stock opened at C$34.19 on Thursday. The stock has a market capitalization of C$8.21 billion, a P/E ratio of 26.50 and a beta of 1.23. Lundin Gold has a 12-month low of C$14.23 and a 12-month high of C$35.89. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. The company has a 50-day simple moving average of C$29.67 and a 200 day simple moving average of C$23.82.

Lundin Gold (TSE:LUG) last issued its quarterly earnings data on Thursday, August 8th. The company reported C$0.55 earnings per share (EPS) 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 company had revenue of C$412.43 million for the quarter.

Insider Transactions at Lundin Gold

In related news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total value of C$459,913.60. In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total transaction of C$459,913.60. Also, Senior Officer Terrence Smith sold 25,740 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of C$29.52, for a total value of C$759,826.78. Insiders have 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 currently owned by corporate insiders.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were issued a $0.551 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 annualized dividend and a yield of 6.45%. Lundin Gold’s dividend payout ratio (DPR) 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.