FY2024 Earnings Estimate for Lundin Gold Inc. (TSE:LUG) Issued By Cormark

Lundin Gold Inc. (TSE:LUG) – Analysts at Cormark upped their FY2024 EPS estimates for Lundin Gold in a research note issued on Thursday, March 28th. Cormark analyst N. Dion now expects that the company will post earnings of $1.25 per share for the year, up from their previous estimate of $1.24. The consensus estimate for Lundin Gold’s current full-year earnings is $1.43 per share.

Other analysts have also issued reports about the stock. Desjardins boosted their target price on shares of Lundin Gold from C$19.75 to C$20.00 and gave the company a “buy” rating in a research report on Wednesday, December 13th. Scotiabank lifted their price target on shares of Lundin Gold from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a report on Thursday. Raymond James set a C$17.50 price target on shares of Lundin Gold and gave the company an “outperform” rating in a report on Thursday, January 25th. BMO Capital Markets lifted their price target on shares of Lundin Gold from C$20.00 to C$22.00 in a report on Wednesday, December 13th. Finally, National Bankshares lifted their price target on shares of Lundin Gold from C$19.00 to C$20.00 and gave the company a “sector perform” rating in a report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Lundin Gold presently has an average rating of “Moderate Buy” and a consensus target price of C$20.15.

Lundin Gold Stock Performance

Shares of TSE LUG opened at C$19.04 on Friday. The firm has a 50 day moving average of C$16.46 and a 200 day moving average of C$16.18. The company has a current ratio of 2.86, a quick ratio of 1.41 and a debt-to-equity ratio of 31.98. The firm has a market capitalization of C$4.53 billion, a price-to-earnings ratio of 18.67 and a beta of 1.10. Lundin Gold has a 12-month low of C$14.23 and a 12-month high of C$19.42.

Lundin Gold (TSE:LUG) last announced its earnings results on Thursday, February 22nd. The company reported C$0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.21 by C($0.02). The business had revenue of C$259.63 million for the quarter. Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%.

Lundin Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a dividend of $0.269 per share. This represents a $1.08 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date of this dividend was Thursday, March 7th. Lundin Gold’s payout ratio is 52.94%.

Insider Activity at Lundin Gold

In related news, Director Ronald F. Hochstein sold 100,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$16.73, for a total transaction of C$1,673,330.00. 59.44% of the stock is owned by insiders.

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.