FY2024 Earnings Estimate for Lundin Gold Inc. (TSE:LUG) Issued By Cormark

Lundin Gold Inc. (TSE:LUG) – Research analysts at Cormark increased their FY2024 earnings per share estimates for shares of Lundin Gold in a research note issued on Thursday, March 28th. Cormark analyst N. Dion now expects that the company will post earnings per share of $1.25 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.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results on Thursday, February 22nd. The company reported C$0.19 EPS for the quarter, missing the consensus estimate of C$0.21 by C($0.02). The business 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%.

Other analysts have also issued research reports about the company. Desjardins lifted their price objective on Lundin Gold from C$19.75 to C$20.00 and gave the stock a “buy” rating in a report on Wednesday, December 13th. National Bankshares lifted their price objective on Lundin Gold from C$19.00 to C$20.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 28th. BMO Capital Markets lifted their price objective on Lundin Gold from C$20.00 to C$22.00 in a report on Wednesday, December 13th. Jefferies Financial Group set a C$19.00 price objective on Lundin Gold and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, Raymond James set a C$17.50 price objective on Lundin Gold and gave the stock an “outperform” rating in a report on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Lundin Gold has a consensus rating of “Moderate Buy” and a consensus price target of C$20.15.

Lundin Gold Stock Performance

Shares of TSE LUG opened at C$19.04 on Friday. The company has a quick ratio of 1.41, a current ratio of 2.86 and a debt-to-equity ratio of 31.98. The business’s 50 day moving average is C$16.46 and its two-hundred day moving average is C$16.18. The company has a market cap of C$4.53 billion, a P/E ratio of 18.67 and a beta of 1.10. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$19.42.

Lundin Gold Cuts Dividend

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

Insider Buying and Selling at Lundin Gold

In other Lundin Gold news, Director Ronald F. Hochstein sold 100,000 shares of Lundin Gold 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. Corporate insiders own 59.44% of the company’s stock.

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.