Q2 2024 EPS Estimates for Lundin Gold Inc. (TSE:LUG) Lifted by Raymond James

Lundin Gold Inc. (TSE:LUG) – Research analysts at Raymond James raised their Q2 2024 EPS estimates for shares of Lundin Gold in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst C. Stanley now anticipates that the company will post earnings per share of $0.38 for the quarter, up from their prior estimate of $0.34. The consensus estimate for Lundin Gold’s current full-year earnings is $1.36 per share.

LUG has been the topic of a number of other research reports. National Bankshares raised their price objective on shares of Lundin Gold from C$24.50 to C$24.75 in a report on Friday, April 19th. Canaccord Genuity Group raised their price objective on shares of Lundin Gold from C$22.75 to C$23.25 in a report on Tuesday. Jefferies Financial Group raised their price objective on shares of Lundin Gold from C$19.00 to C$23.00 and gave the stock a “buy” rating in a report on Monday. Scotiabank raised their target price on shares of Lundin Gold from C$20.00 to C$21.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 28th. Finally, Veritas Investment Research raised their target price on shares of Lundin Gold from C$20.90 to C$28.00 in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$22.25.

Lundin Gold Stock Performance

LUG opened at C$18.87 on Thursday. The company has a current ratio of 2.86, a quick ratio of 1.41 and a debt-to-equity ratio of 31.98. The company has a market cap of C$4.49 billion, a price-to-earnings ratio of 18.50 and a beta of 1.10. The company’s 50 day moving average is C$17.70 and its 200 day moving average is C$16.66. Lundin Gold has a 12-month low of C$14.23 and a 12-month high of C$20.36.

Lundin Gold (TSE:LUG) last announced its quarterly 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 company had revenue of C$259.63 million for the quarter. Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%.

Insider Activity

In related news, Director Ronald F. Hochstein sold 100,000 shares of the business’s stock in a transaction on 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. Company insiders own 59.46% of the company’s stock.

Lundin Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a dividend of $0.269 per share. This represents a $1.08 annualized dividend and a dividend yield of 5.70%. The ex-dividend date was Thursday, March 7th. Lundin Gold’s payout ratio is currently 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.