Analysts Set Expectations for Lundin Gold Inc.’s FY2024 Earnings (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Stock analysts at Cormark raised their FY2024 earnings per share estimates for Lundin Gold in a report issued on Thursday, March 28th. Cormark analyst N. Dion now expects that the company will post earnings of $1.25 per share for the year, up from their prior estimate of $1.24. The consensus estimate for Lundin Gold’s current full-year earnings is $1.43 per share.

A number of other research firms have also weighed in on LUG. BMO Capital Markets boosted their target price on Lundin Gold from C$20.00 to C$22.00 in a report on Wednesday, December 13th. Scotiabank boosted their price target on Lundin Gold from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a research note on Thursday. National Bankshares boosted their price target on Lundin Gold from C$19.00 to C$20.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 28th. Raymond James set a C$17.50 price target on Lundin Gold and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Desjardins upped their target price on Lundin Gold from C$19.75 to C$20.00 and gave the company a “buy” rating in a research report on Wednesday, December 13th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lundin Gold presently has a consensus rating of “Moderate Buy” and an average price target of C$20.15.

Lundin Gold Stock Up 0.8 %

TSE:LUG opened at C$19.04 on Friday. The firm has a market capitalization of C$4.53 billion, a price-to-earnings ratio of 18.67 and a beta of 1.10. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$19.42. The stock’s 50 day moving average price is C$16.46 and its two-hundred day moving average price is C$16.18. The company has a quick ratio of 1.41, a current ratio of 2.86 and a debt-to-equity ratio of 31.98.

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

Insiders Place Their Bets

In other Lundin Gold news, Director Ronald F. Hochstein sold 100,000 shares of the company’s stock in a transaction dated 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. Insiders own 59.44% of the company’s stock.

Lundin Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a $0.269 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.08 dividend on an annualized basis and a yield of 5.65%. Lundin Gold’s payout ratio is presently 52.94%.

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.