Desjardins Comments on Lundin Gold Inc.’s Q1 2024 Earnings (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Analysts at Desjardins issued their Q1 2024 EPS estimates for shares of Lundin Gold in a report issued on Tuesday, April 23rd. Desjardins analyst J. Egilo anticipates that the company will post earnings of $0.30 per share for the quarter. The consensus estimate for Lundin Gold’s current full-year earnings is $1.36 per share.

Several other analysts also recently commented on LUG. Canaccord Genuity Group lifted their target price on shares of Lundin Gold from C$22.75 to C$23.25 in a report on Tuesday. Veritas Investment Research lifted their target price on shares of Lundin Gold from C$20.90 to C$28.00 in a report on Friday, April 12th. Scotiabank lifted their target price on shares of Lundin Gold from C$20.00 to C$21.00 and gave the stock a “sector perform” rating in a report on Thursday, March 28th. Raymond James boosted their price objective on shares of Lundin Gold from C$17.50 to C$21.00 in a report on Tuesday. Finally, National Bankshares boosted their price objective on shares of Lundin Gold from C$24.50 to C$24.75 in a report on Friday, April 19th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$22.25.

Lundin Gold Stock Performance

Shares of LUG stock opened at C$18.87 on Thursday. The company has a market capitalization of C$4.49 billion, a price-to-earnings ratio of 18.57 and a beta of 1.10. The company has a debt-to-equity ratio of 31.98, a quick ratio of 1.41 and a current ratio of 2.86. The company has a 50-day simple moving average of C$17.70 and a 200 day simple moving average of C$16.66. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$20.36.

Lundin Gold (TSE:LUG) last announced its quarterly earnings data on Thursday, February 22nd. The company reported C$0.19 EPS for the quarter, missing analysts’ consensus estimates of C$0.21 by C($0.02). Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%. The firm had revenue of C$259.63 million during the quarter.

Lundin Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a dividend of $0.269 per share. This represents a $1.08 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date was Thursday, March 7th. Lundin Gold’s dividend payout ratio is 52.94%.

Insider Buying and Selling

In related news, Director Ronald F. Hochstein sold 100,000 shares of the company’s stock in a transaction that occurred 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. 59.46% of the stock is owned by corporate 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.