Q1 2024 Earnings Estimate for Lundin Gold Inc. Issued By Raymond James (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Analysts at Raymond James cut their Q1 2024 earnings per share (EPS) estimates for Lundin Gold in a note issued to investors on Tuesday, April 23rd. Raymond James analyst C. Stanley now expects that the company will earn $0.29 per share for the quarter, down from their prior forecast of $0.34. The consensus estimate for Lundin Gold’s current full-year earnings is $1.36 per share. Raymond James also issued estimates for Lundin Gold’s Q3 2024 earnings at $0.51 EPS, Q4 2024 earnings at $0.52 EPS and FY2024 earnings at $1.70 EPS.

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%.

A number of other equities research analysts also recently commented on LUG. Veritas Investment Research increased their price objective on Lundin Gold from C$20.90 to C$28.00 in a research report on Friday, April 12th. Cormark increased their price objective on Lundin Gold from C$22.00 to C$23.00 in a research report on Friday, April 19th. Jefferies Financial Group increased their price objective on Lundin Gold from C$19.00 to C$23.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. National Bankshares increased their price objective on Lundin Gold from C$24.50 to C$24.75 in a research report on Friday, April 19th. Finally, Scotiabank increased their target price on Lundin Gold from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a report on Thursday, March 28th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$22.25.

Lundin Gold Stock Performance

LUG opened at C$19.39 on Friday. 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. 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 has a 1-year low of C$14.23 and a 1-year high of C$20.36. The business has a 50 day moving average price of C$17.86 and a two-hundred day moving average price of C$16.69.

Lundin Gold Cuts Dividend

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

Insider Transactions at Lundin Gold

In related news, Director Ronald F. Hochstein sold 100,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were 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 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.