Lundin Gold Inc. Expected to Post Q1 2024 Earnings of $0.30 Per Share (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Equities researchers at Desjardins issued their Q1 2024 earnings per share (EPS) estimates for shares of Lundin Gold in a research report issued on Tuesday, April 23rd. Desjardins analyst J. Egilo expects 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.

Other analysts also recently issued research reports about the company. Cormark boosted their price objective on Lundin Gold from C$22.00 to C$23.00 in a research report on Friday, April 19th. Scotiabank boosted their price objective on Lundin Gold from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a research report on Thursday, March 28th. National Bankshares boosted their price objective on Lundin Gold from C$24.50 to C$24.75 in a research report on Friday, April 19th. Jefferies Financial Group upped their target price on Lundin Gold from C$19.00 to C$23.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Finally, Raymond James upped their target price on Lundin Gold from C$17.50 to C$21.00 in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lundin Gold currently has an average rating of “Moderate Buy” and a consensus target price of C$22.25.

Lundin Gold Stock Performance

TSE:LUG opened at C$19.39 on Thursday. The business has a 50 day moving average of C$17.86 and a 200 day moving average of C$16.69. The company has a market capitalization of C$4.62 billion, a price-to-earnings ratio of 19.01 and a beta of 1.10. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$20.36. The company has a debt-to-equity ratio of 31.98, a current ratio of 2.86 and a quick ratio of 1.41.

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

Insider Buying and Selling

In related news, Director Ronald F. Hochstein sold 100,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of C$16.73, for a total value of C$1,673,330.00. 59.46% of the stock is owned by insiders.

Lundin Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a $0.269 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.08 annualized dividend and a yield of 5.55%. Lundin Gold’s payout ratio is 52.94%.

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.