National Bank Financial Weighs in on Lundin Gold Inc.’s FY2024 Earnings (TSE:LUG)

Lundin Gold Inc. (TSE:LUGFree Report) – Research analysts at National Bank Financial increased their FY2024 earnings per share (EPS) estimates for shares of Lundin Gold in a research note issued to investors on Sunday, July 7th. National Bank Financial analyst D. Demarco now expects that the company will post earnings per share of $2.37 for the year, up from their prior forecast of $2.33. National Bank Financial has a “Strong-Buy” rating on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $1.70 per share. National Bank Financial also issued estimates for Lundin Gold’s FY2025 earnings at $2.66 EPS and FY2026 earnings at $2.24 EPS.

Lundin Gold (TSE:LUGGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported C$0.32 EPS for the quarter, missing analysts’ consensus estimates of C$0.33 by C($0.01). The company had revenue of C$305.68 million for the quarter. Lundin Gold had a return on equity of 18.30% and a net margin of 19.47%.

Several other research analysts also recently issued reports on the company. Desjardins raised Lundin Gold to a “moderate buy” rating in a report on Friday, May 10th. Veritas Investment Research upped their price target on Lundin Gold from C$20.90 to C$28.00 in a research note on Friday, April 12th. Jefferies Financial Group lifted their price objective on Lundin Gold from C$23.00 to C$24.00 in a research report on Thursday, June 6th. Scotiabank upped their target price on shares of Lundin Gold from C$21.00 to C$23.50 in a research report on Thursday, May 23rd. Finally, Cormark lifted their price target on shares of Lundin Gold from C$23.00 to C$25.00 in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lundin Gold has an average rating of “Moderate Buy” and a consensus price target of C$23.50.

Get Our Latest Research Report on Lundin Gold

Lundin Gold Price Performance

Shares of LUG stock opened at C$22.55 on Tuesday. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$22.66. The company has a current ratio of 3.08, a quick ratio of 1.41 and a debt-to-equity ratio of 33.65. The firm’s 50 day moving average is C$19.92 and its 200-day moving average is C$18.02. The firm has a market capitalization of C$5.39 billion, a price-to-earnings ratio of 23.49 and a beta of 1.14.

Lundin Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 25th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Monday, June 10th. Lundin Gold’s payout ratio is presently 57.29%.

Insiders Place Their Bets

In other Lundin Gold news, Senior Officer Chester See sold 30,100 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$20.27, for a total value of C$610,253.42. In related news, Director Ian Gibbs sold 30,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of C$19.90, for a total value of C$597,000.00. Also, Senior Officer Chester See sold 30,100 shares of Lundin Gold stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$20.27, for a total value of C$610,253.42. Over the last three months, insiders have sold 110,100 shares of company stock worth $2,219,753. Company insiders own 58.99% of the company’s stock.

Lundin Gold Company Profile

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for Lundin Gold (TSE:LUG)

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