Cormark Weighs in on Lundin Gold’s FY2024 Earnings (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Analysts at Cormark boosted their FY2024 EPS estimates for shares of Lundin Gold in a research report issued on Thursday, December 5th. Cormark analyst N. Dion now expects that the company will post earnings of $2.35 per share for the year, up from their prior forecast of $2.34. Cormark currently has a “Hold” rating and a $32.00 target price on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share. Cormark also issued estimates for Lundin Gold’s FY2025 earnings at $2.51 EPS.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group cut Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. National Bankshares increased their price target on Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Desjardins raised shares of Lundin Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Raymond James cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating and raised their target price for the stock from C$25.00 to C$29.00 in a research note on Monday, September 23rd. Finally, Royal Bank of Canada boosted their price target on shares of Lundin Gold from C$27.00 to C$31.00 in a research note on Friday. Four equities research 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$30.83.

Lundin Gold Stock Performance

TSE LUG opened at C$34.64 on Friday. The firm has a market cap of C$8.31 billion, a P/E ratio of 26.85 and a beta of 1.23. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$35.89. The business’s 50-day moving average price is C$32.46 and its 200 day moving average price is C$26.64. 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 posted its quarterly earnings data on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter.

Insider Activity

In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold stock in a transaction dated Thursday, September 12th. The shares were 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 company’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 transaction of C$759,826.78. In the last three months, insiders sold 72,840 shares of company stock worth $2,146,122. Company insiders own 58.72% of the company’s stock.

Lundin Gold Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 20th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.31%. Lundin Gold’s dividend payout ratio (DPR) is presently 82.95%.

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.