Cormark Analysts Boost Earnings Estimates for Lundin Gold Inc. (TSE:LUG)

Lundin Gold Inc. (TSE:LUGGet Rating) – Equities research analysts at Cormark lifted their FY2022 earnings per share estimates for shares of Lundin Gold in a report issued on Wednesday, April 13th. Cormark analyst N. Dion now forecasts that the company will post earnings of $1.07 per share for the year, up from their previous estimate of $0.98. Cormark currently has a “Neutral” rating and a $13.00 price target on the stock.

Lundin Gold (TSE:LUGGet Rating) last released its quarterly earnings results on Wednesday, February 23rd. The company reported C$0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.25 by C$0.17. The business had revenue of C$235.05 million during the quarter.

Other analysts have also recently issued reports about the company. BMO Capital Markets reissued a “buy” rating and set a C$14.00 price objective on shares of Lundin Gold in a report on Tuesday, January 11th. TD Securities dropped their price objective on Lundin Gold from C$15.50 to C$13.50 in a report on Wednesday, January 26th. Scotiabank cut Lundin Gold from an “outperform” rating to a “hold” rating and set a C$12.00 price objective for the company. in a report on Friday, January 21st. CIBC decreased their target price on Lundin Gold from C$15.00 to C$14.00 and set an “outperform” rating for the company in a research report on Thursday, December 16th. Finally, National Bankshares boosted their target price on Lundin Gold from C$11.75 to C$12.25 and gave the stock a “sector perform” rating in a research report on Monday, February 28th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$13.11.

Shares of TSE:LUG opened at C$11.66 on Thursday. The stock has a market capitalization of C$2.74 billion and a P/E ratio of 9.93. Lundin Gold has a 1-year low of C$8.82 and a 1-year high of C$12.93. The company has a current ratio of 1.70, a quick ratio of 1.32 and a debt-to-equity ratio of 90.85. The business has a 50-day moving average price of C$10.45 and a two-hundred day moving average price of C$10.28.

In other Lundin Gold news, Senior Officer Alessandro Bitelli sold 95,000 shares of the business’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of C$9.92, for a total value of C$942,134.00. Following the sale, the insider now owns 175,000 shares in the company, valued at approximately C$1,735,510. Also, Director Ronald F. Hochstein sold 80,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of C$11.17, for a total value of C$899,104.50. Following the completion of the sale, the director now owns 569,600 shares in the company, valued at approximately C$6,361,862.40. Insiders sold a total of 214,750 shares of company stock valued at $2,258,701 over the last quarter.

Lundin Gold Company Profile (Get Rating)

Lundin Gold Inc operates as a mining company in Canada. The company holds interests in 27 metallic mineral concessions and three construction material concessions covering an area of approximately 64,270 hectares located in Southeast Ecuador. It primary holds interests in the Fruta del Norte gold project 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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