Cormark Weighs in on Lundin Gold Inc.’s Q1 2024 Earnings (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Analysts at Cormark issued their Q1 2024 earnings estimates for Lundin Gold in a report released on Monday, April 22nd. Cormark analyst N. Dion expects that the company will earn $0.30 per share for the quarter. The consensus estimate for Lundin Gold’s current full-year earnings is $1.36 per share.

A number of other analysts have also issued reports on LUG. Jefferies Financial Group increased their price target on shares of Lundin Gold from C$19.00 to C$23.00 and gave the stock a “buy” rating in a research report on Monday. Scotiabank lifted their target price on shares of Lundin Gold from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a research note on Thursday, March 28th. Veritas Investment Research lifted their target price on shares of Lundin Gold from C$20.90 to C$28.00 in a research note on Friday, April 12th. Raymond James lifted their target price on shares of Lundin Gold from C$17.50 to C$21.00 in a research note on Tuesday. Finally, Canaccord Genuity Group lifted their target price on shares of Lundin Gold from C$22.75 to C$23.25 in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$22.25.

Lundin Gold Price Performance

TSE LUG opened at C$19.00 on Tuesday. The company has a 50 day simple moving average of C$17.61 and a 200-day simple moving average of C$16.63. The company has a debt-to-equity ratio of 31.98, a current ratio of 2.86 and a quick ratio of 1.41. The firm has a market capitalization of C$4.52 billion, a price-to-earnings ratio of 18.57 and a beta of 1.10. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$20.36.

Lundin Gold (TSE:LUG) last posted 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 during the quarter. Lundin Gold had a return on equity of 19.85% and a net margin of 19.88%.

Insider Activity

In other news, Director Ronald F. Hochstein sold 100,000 shares of Lundin Gold stock in a transaction that occurred 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. Insiders own 59.46% of the company’s stock.

Lundin Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a $0.269 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date of this dividend was Thursday, March 7th. Lundin Gold’s dividend payout ratio is 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.