Lundin Gold Inc. (TSE:LUG) Expected to Post FY2024 Earnings of $2.08 Per Share

Lundin Gold Inc. (TSE:LUGFree Report) – Research analysts at Cormark lifted their FY2024 EPS estimates for Lundin Gold in a research note issued on Thursday, October 10th. Cormark analyst N. Dion now anticipates that the company will post earnings of $2.08 per share for the year, up from their previous forecast of $1.96. Cormark has a “Hold” rating and a $32.00 price objective on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share.

Lundin Gold (TSE:LUGGet Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.62 by C($0.07). Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. The company had revenue of C$412.43 million for the quarter.

A number of other analysts have also recently commented on LUG. National Bankshares increased their price objective on shares of Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Canaccord Genuity Group increased their price objective on shares of Lundin Gold from C$27.50 to C$28.50 in a research report on Tuesday, August 20th. Scotiabank increased their price objective on shares of Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th. TD Securities increased their price objective on shares of Lundin Gold from C$24.00 to C$27.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada increased their price objective on shares of Lundin Gold from C$25.00 to C$27.00 in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$28.33.

Read Our Latest Report on LUG

Lundin Gold Stock Performance

Shares of Lundin Gold stock opened at C$32.67 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. The stock has a market cap of C$7.84 billion, a price-to-earnings ratio of 25.33 and a beta of 1.23. The company’s fifty day moving average is C$27.60 and its 200 day moving average is C$22.77. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$33.34.

Lundin Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were given a $0.551 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $2.20 annualized dividend and a yield of 6.75%. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10. Lundin Gold’s payout ratio is currently 82.95%.

Insiders Place Their Bets

In other Lundin Gold news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total value of C$459,913.60. In other news, Director Ronald F. Hochstein sold 16,200 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total transaction of C$477,891.90. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total value of C$459,913.60. Over the last quarter, insiders have sold 72,840 shares of company stock valued at $2,146,122. Insiders own 58.72% of the company’s stock.

About Lundin Gold

(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.

Featured Articles

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

Receive News & Ratings for Lundin Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lundin Gold and related companies with MarketBeat.com's FREE daily email newsletter.