FY2024 EPS Estimate for Lundin Gold Increased by Analyst

Lundin Gold Inc. (TSE:LUG) – Equities research analysts at National Bank Financial boosted their FY2024 earnings per share estimates for shares of Lundin Gold in a report released on Tuesday, November 12th. National Bank Financial analyst D. Demarco now anticipates that the company will post earnings per share of $2.54 for the year, up from their prior estimate of $2.39. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share. National Bank Financial also issued estimates for Lundin Gold’s FY2028 earnings at $2.52 EPS.

Lundin Gold (TSE:LUG) last issued its earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.60 by C$0.16. The firm had revenue of C$440.77 million for the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%.

Several other brokerages also recently weighed in on LUG. TD Securities increased their price target on Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. National Bankshares boosted their target price on shares of Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Scotiabank lifted their price objective on shares of Lundin Gold from C$23.50 to C$25.50 in a report on Monday, August 19th. CIBC upped their target price on shares of Lundin Gold from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, Raymond James downgraded shares of Lundin Gold from an “outperform” rating to a “market perform” rating and lifted their price target for the company from C$25.00 to C$29.00 in a research note on Monday, September 23rd. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$29.42.

Lundin Gold Trading Up 0.5 %

LUG stock opened at C$30.05 on Thursday. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. The stock has a market capitalization of C$7.21 billion, a price-to-earnings ratio of 23.29 and a beta of 1.23. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$35.89. The firm’s fifty day simple moving average is C$31.19 and its two-hundred day simple moving average is C$25.18.

Insider Buying and Selling at Lundin Gold

In related news, Senior Officer Terrence Smith sold 25,740 shares of Lundin Gold 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 value of C$759,826.78. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the firm’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. Over the last ninety days, insiders sold 72,840 shares of company stock valued at $2,146,122. 58.72% of the stock is currently owned by insiders.

Lundin Gold Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th 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 2.66%. Lundin Gold’s dividend payout ratio 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.