Desjardins Comments on Lundin Gold Inc.’s Q1 2024 Earnings (TSE:LUG)

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

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 weighed in on LUG. Jefferies Financial Group upped their target price on Lundin Gold from C$19.00 to C$23.00 and gave the stock a “buy” rating in a research report on Monday. Canaccord Genuity Group upped their target price on Lundin Gold from C$22.75 to C$23.25 in a research report on Tuesday. Scotiabank upped their price target 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. Raymond James upped their price target on Lundin Gold from C$17.50 to C$21.00 in a report on Tuesday. Finally, National Bankshares upped their price target on Lundin Gold from C$24.50 to C$24.75 in a report on Friday, April 19th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Lundin Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of C$22.25.

Lundin Gold Stock Performance

LUG opened at C$18.87 on Thursday. The company has a market capitalization of C$4.49 billion, a price-to-earnings ratio of 18.57 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$17.70 and a two-hundred day moving average price of C$16.66.

Lundin Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued 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 of this dividend was Thursday, March 7th. Lundin Gold’s dividend payout ratio is currently 52.94%.

Insider Activity

In other 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 transaction of C$1,673,330.00. 59.46% of the stock is currently owned by corporate 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.