Raymond James Brokers Increase Earnings Estimates for Lundin Gold Inc. (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Research analysts at Raymond James lifted their Q2 2024 earnings per share (EPS) estimates for Lundin Gold in a report issued on Tuesday, April 23rd. Raymond James analyst C. Stanley now anticipates that the company will post earnings per share of $0.38 for the quarter, up from their previous forecast of $0.34. The consensus estimate for Lundin Gold’s current full-year earnings is $1.36 per share.

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). Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%. The company had revenue of C$259.63 million during the quarter.

LUG has been the topic of a number of other reports. Jefferies Financial Group raised their price objective on shares of Lundin Gold from C$19.00 to C$23.00 and gave the company a “buy” rating in a report on Monday. Scotiabank raised their price target on 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. Cormark upped their price objective on Lundin Gold from C$22.00 to C$23.00 in a research report on Friday, April 19th. Veritas Investment Research raised their target price on Lundin Gold from C$20.90 to C$28.00 in a research report on Friday, April 12th. Finally, Canaccord Genuity Group upped their price target on Lundin Gold from C$22.75 to C$23.25 in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Lundin Gold has a consensus rating of “Moderate Buy” and an average price target of C$22.25.

Lundin Gold Stock Up 2.5 %

Shares of Lundin Gold stock opened at C$19.35 on Thursday. The company has a quick ratio of 1.41, a current ratio of 2.86 and a debt-to-equity ratio of 31.98. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$20.36. The company has a market capitalization of C$4.61 billion, a P/E ratio of 19.04 and a beta of 1.10. The company has a 50 day moving average of C$17.78 and a 200 day moving average of C$16.67.

Insider Buying and Selling at Lundin Gold

In other news, Director Ronald F. Hochstein sold 100,000 shares of the firm’s 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 transaction of C$1,673,330.00. 59.46% of the stock is owned by company insiders.

Lundin Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a dividend of $0.269 per share. This represents a $1.08 annualized dividend and a yield of 5.56%. The ex-dividend date of this dividend was Thursday, March 7th. Lundin Gold’s dividend payout ratio (DPR) is 52.94%.

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.