Brokers Issue Forecasts for Lundin Gold FY2024 Earnings

Lundin Gold Inc. (TSE:LUG - Free Report) - Stock analysts at Raymond James raised their FY2024 earnings estimates for shares of Lundin Gold in a report issued on Monday, January 6th. Raymond James analyst C. Stanley now anticipates that the company will post earnings of $2.36 per share for the year, up from their previous forecast of $2.10. Raymond James currently has a "Market Perform" rating and a $29.00 target price on the stock. The consensus estimate for Lundin Gold's current full-year earnings is $2.56 per share. Raymond James also issued estimates for Lundin Gold's Q4 2024 earnings at $0.60 EPS, Q2 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.72 EPS and FY2025 earnings at $2.57 EPS.

Lundin Gold (TSE:LUG - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share for the quarter, beating the consensus estimate of C$0.60 by C$0.16. The firm had revenue of C$440.77 million during the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%.

Other equities research analysts have also recently issued research reports about the company. Scotiabank reduced their price objective on Lundin Gold from C$31.50 to C$30.00 in a research note on Tuesday, December 10th. Canaccord Genuity Group downgraded shares of Lundin Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 22nd. Jefferies Financial Group downgraded shares of Lundin Gold from a "buy" rating to a "hold" rating and lowered their price objective for the stock from C$37.00 to C$36.00 in a report on Wednesday, December 11th. Royal Bank of Canada raised their price objective on shares of Lundin Gold from C$27.00 to C$31.00 in a research note on Friday, December 6th. Finally, CIBC boosted their target price on shares of Lundin Gold from C$34.00 to C$41.00 in a research report on Monday, December 2nd. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lundin Gold has an average rating of "Moderate Buy" and a consensus target price of C$32.55.

Lundin Gold Stock Up 1.3 %

Lundin Gold stock traded up C$0.40 during midday trading on Wednesday, reaching C$31.04. The stock had a trading volume of 405,730 shares, compared to its average volume of 286,718. The company has a fifty day moving average price of C$32.08 and a two-hundred day moving average price of C$28.53. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$35.89. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28. The company has a market capitalization of C$7.45 billion, a P/E ratio of 24.06 and a beta of 1.23.

Insider Buying and Selling at Lundin Gold

In other news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total transaction of C$355,001.16. Company insiders own 58.72% of the company's stock.

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 20th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Thursday, December 5th. Lundin Gold's payout ratio is 82.95%.

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.