Lundin Gold FY2024 EPS Lowered by National Bank Financial

Lundin Gold Inc. (TSE:LUG - Free Report) - National Bank Financial cut their FY2024 earnings estimates for shares of Lundin Gold in a report released on Monday, February 10th. National Bank Financial analyst D. Demarco now expects that the company will earn $2.47 per share for the year, down from their prior estimate of $2.54. The consensus estimate for Lundin Gold's current full-year earnings is $2.56 per share. National Bank Financial also issued estimates for Lundin Gold's Q4 2024 earnings at $0.73 EPS and FY2025 earnings at $3.60 EPS.

Several other research firms also recently commented on LUG. Canaccord Genuity Group downgraded Lundin Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 22nd. CIBC lifted their price target on Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Scotiabank increased their price objective on Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Royal Bank of Canada lifted their target price on shares of Lundin Gold from C$31.00 to C$35.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. Finally, BMO Capital Markets cut shares of Lundin Gold from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lundin Gold presently has a consensus rating of "Moderate Buy" and an average target price of C$34.45.

Lundin Gold Stock Performance

TSE:LUG traded down C$0.75 during trading hours on Thursday, reaching C$37.31. The company's stock had a trading volume of 570,192 shares, compared to its average volume of 323,626. The firm has a 50-day simple moving average of C$34.04 and a 200-day simple moving average of C$31.31. Lundin Gold has a 1 year low of C$14.94 and a 1 year high of C$41.28. The firm has a market capitalization of C$6.37 billion, a price-to-earnings ratio of 20.94 and a beta of 1.23.

Insider Transactions at Lundin Gold

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

Lundin Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 20th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.14%. Lundin Gold's dividend payout ratio (DPR) is currently 60.06%.

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.