Analysts Offer Predictions for Lundin Gold FY2024 Earnings

Lundin Gold Inc. (TSE:LUG) – Research analysts at Desjardins lifted their FY2024 EPS estimates for shares of Lundin Gold in a report issued on Thursday, November 7th. Desjardins analyst A. Carson now forecasts that the company will earn $2.36 per share for the year, up from their prior estimate of $2.15. 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 FY2025 earnings at $2.61 EPS.

LUG has been the subject of several other reports. Royal Bank of Canada raised their price objective on shares of Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. Jefferies Financial Group boosted their price objective on Lundin Gold from C$35.00 to C$37.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Raymond James cut Lundin Gold from an “outperform” rating to a “market perform” rating and upped their price objective for the company from C$25.00 to C$29.00 in a research note on Monday, September 23rd. National Bankshares lifted their target price on Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, Cormark boosted their price objective on shares of Lundin Gold from C$27.00 to C$32.00 and gave the company a “hold” rating in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$29.42.

Lundin Gold Trading Down 1.1 %

Shares of LUG opened at C$30.47 on Monday. The company has a market capitalization of C$7.31 billion, a P/E ratio of 23.62 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98. The stock has a 50-day moving average price of C$30.97 and a 200 day moving average price of C$25.03. Lundin Gold has a one year low of C$14.23 and a one year high of C$35.89.

Lundin Gold (TSE:LUG) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.60 by C$0.16. The company had revenue of C$440.77 million for the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%.

Lundin Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, December 5th. Lundin Gold’s dividend payout ratio (DPR) is 82.95%.

Insider Activity at Lundin Gold

In other Lundin Gold news, Senior Officer Chester See sold 14,900 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total transaction of C$448,490.00. In other news, Senior Officer Terrence Smith sold 25,740 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total value of C$759,826.78. Also, Senior Officer Chester See sold 14,900 shares of Lundin Gold stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. Insiders have sold a total of 72,840 shares of company stock worth $2,146,122 over the last ninety days. 58.72% of the stock is currently owned by corporate insiders.

Lundin Gold Company Profile

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.