Brokers Offer Predictions for Lundin Gold Q3 Earnings

Lundin Gold Inc. (TSE:LUG) – Research analysts at National Bank Financial raised their Q3 2024 EPS estimates for shares of Lundin Gold in a research note issued to investors on Tuesday, October 22nd. National Bank Financial analyst D. Demarco now anticipates that the company will post earnings per share of $0.70 for the quarter, up from their prior estimate of $0.64. National Bank Financial has a “Strong-Buy” rating on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share.

Lundin Gold (TSE:LUG) last announced its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 EPS for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). The company had revenue of C$412.43 million during the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%.

LUG has been the topic of a number of other research reports. Royal Bank of Canada upped their price target on shares of Lundin Gold from C$25.00 to C$27.00 in a research note on Tuesday, September 10th. Raymond James lowered shares of Lundin Gold from an “outperform” rating to a “market perform” rating and increased their price objective for the company from C$25.00 to C$29.00 in a research report on Monday, September 23rd. Canaccord Genuity Group downgraded shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday. National Bankshares raised their price objective on shares of Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Finally, Cormark lifted their price target on shares of Lundin Gold from C$27.00 to C$32.00 and gave the company a “hold” rating in a research note on Thursday, October 10th. Four 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$29.42.

Lundin Gold Price Performance

Shares of TSE:LUG opened at C$34.67 on Thursday. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$35.89. The firm’s 50 day simple moving average is C$29.49 and its two-hundred day simple moving average is C$23.74. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The company has a market capitalization of C$8.32 billion, a P/E ratio of 26.88 and a beta of 1.23.

Lundin Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th were paid a $0.551 dividend. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 annualized dividend and a dividend yield of 6.36%. The ex-dividend date was Tuesday, September 10th. Lundin Gold’s payout ratio is currently 82.95%.

Insider Activity at Lundin Gold

In related news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total transaction of C$459,913.60. In related news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total value of C$459,913.60. Also, Director Ronald F. Hochstein sold 16,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total transaction of C$477,891.90. In the last ninety days, insiders have sold 72,840 shares of company stock worth $2,146,122. 58.72% of the stock is currently owned by company 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.