Lundin Gold FY2024 EPS Increased by National Bank Financial

Lundin Gold Inc. (TSE:LUG) – Equities researchers at National Bank Financial upped their FY2024 earnings estimates for shares of Lundin Gold in a research report issued to clients and investors on Tuesday, October 22nd. National Bank Financial analyst D. Demarco now forecasts that the company will post earnings per share of $2.39 for the year, up from their prior forecast of $2.13. National Bank Financial has a “Strong-Buy” rating on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share. National Bank Financial also issued estimates for Lundin Gold’s FY2025 earnings at $3.42 EPS.

Several other equities research analysts have also recently weighed in on LUG. National Bankshares increased their price target on Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Jefferies Financial Group raised their price target on shares of Lundin Gold from C$35.00 to C$37.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. CIBC boosted their price target on shares of Lundin Gold from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Canaccord Genuity Group cut shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, Scotiabank boosted their target price on shares of Lundin Gold from C$23.50 to C$25.50 in a report on Monday, August 19th. Four investment 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$29.42.

Lundin Gold Stock Down 1.4 %

Shares of TSE:LUG opened at C$34.19 on Friday. The firm has a market cap 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 business has a fifty day simple moving average of C$29.67 and a 200 day simple moving average of C$23.85. 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 (TSE:LUG) last released its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of C$412.43 million for the quarter.

Insider Activity

In related news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total value of C$459,913.60. In related news, Director Ronald F. Hochstein sold 16,200 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total value of C$477,891.90. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold stock in a transaction 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 sold a total of 72,840 shares of company stock worth $2,146,122 in the last three months. Company insiders own 58.72% of the company’s stock.

Lundin Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th were given a dividend of $0.551 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date was Tuesday, September 10th. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10. 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.