Equities Analysts Set Expectations for Lundin Gold Inc.’s Q1 2024 Earnings (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Investment analysts at Desjardins issued their Q1 2024 EPS estimates for shares of Lundin Gold in a research report issued to clients and investors on Tuesday, April 23rd. Desjardins analyst J. Egilo forecasts 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.

Lundin Gold (TSE:LUG) last issued its quarterly earnings data on Thursday, February 22nd. The company reported C$0.19 EPS for the quarter, missing analysts’ consensus estimates of C$0.21 by C($0.02). The business had revenue of C$259.63 million during the quarter. Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%.

A number of other equities research analysts have also recently commented on the stock. Raymond James increased their price objective on shares of Lundin Gold from C$17.50 to C$21.00 in a research note on Tuesday. National Bankshares increased their price objective on shares of Lundin Gold from C$24.50 to C$24.75 in a research note on Friday, April 19th. Scotiabank raised their price target on shares of Lundin Gold from C$20.00 to C$21.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 28th. Canaccord Genuity Group raised their price target on shares of Lundin Gold from C$22.75 to C$23.25 in a research note on Tuesday. Finally, Jefferies Financial Group raised 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 note on Monday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$22.25.

Lundin Gold Price Performance

Shares of TSE LUG opened at C$19.35 on Thursday. The stock has a market cap of C$4.61 billion, a price-to-earnings ratio of 19.04 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. The company’s 50-day moving average price is C$17.78 and its 200 day moving average price is C$16.67. The company has a current ratio of 2.86, a quick ratio of 1.41 and a debt-to-equity ratio of 31.98.

Insider Transactions at Lundin Gold

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

Lundin Gold Cuts Dividend

The business also recently disclosed 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. The ex-dividend date was Thursday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 5.56%. Lundin Gold’s payout ratio is currently 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.