FY2024 EPS Estimates for Lundin Gold Lifted by Raymond James

Lundin Gold Inc. (TSE:LUG) – Investment analysts at Raymond James upped their FY2024 earnings per share estimates for shares of Lundin Gold in a research note issued on Monday, January 6th. Raymond James analyst C. Stanley now anticipates that the company will post earnings per share of $2.36 for the year, up from their previous estimate of $2.10. Raymond James has a “Market Perform” rating and a $29.00 price objective on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share. Raymond James also issued estimates for Lundin Gold’s Q4 2024 earnings at $0.60 EPS, Q2 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.72 EPS and FY2025 earnings at $2.57 EPS.

Lundin Gold (TSE:LUG) last announced its earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share 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 firm had revenue of C$440.77 million for the quarter.

Several other equities analysts have also issued reports on LUG. Royal Bank of Canada lifted their price target on Lundin Gold from C$27.00 to C$31.00 in a research report on Friday, December 6th. Desjardins raised Lundin Gold to a “moderate buy” rating in a research report on Thursday, October 31st. CIBC boosted their target price on Lundin Gold from C$34.00 to C$41.00 in a research report on Monday, December 2nd. Jefferies Financial Group downgraded shares of Lundin Gold from a “buy” rating to a “hold” rating and dropped their price target for the company from C$37.00 to C$36.00 in a report on Wednesday, December 11th. Finally, TD Securities lifted their price target on shares of Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$32.55.

Lundin Gold Stock Up 5.9 %

Shares of Lundin Gold stock opened at C$32.87 on Wednesday. The company has a 50-day moving average of C$32.02 and a 200 day moving average of C$28.61. The firm has a market cap of C$7.89 billion, a price-to-earnings ratio of 25.48 and a beta of 1.23. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$35.89. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41.

Lundin Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Thursday, December 5th. Lundin Gold’s payout ratio is 82.95%.

Insider Transactions at Lundin Gold

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total transaction of C$355,001.16. 58.72% of the stock is currently owned by company 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.