What is Cormark's Estimate for Lundin Gold FY2024 Earnings?

Lundin Gold Inc. (TSE:LUG - Free Report) - Analysts at Cormark increased their FY2024 EPS estimates for shares of Lundin Gold in a research report issued on Wednesday, December 11th. Cormark analyst N. Dion now forecasts that the company will post earnings per share of $2.37 for the year, up from their previous forecast of $2.35. Cormark has a "Hold" rating and a $32.00 price target on the stock. The consensus estimate for Lundin Gold's current full-year earnings is $2.56 per share.

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

Several other research firms have also commented on LUG. CIBC boosted their price objective on shares of Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Canaccord Genuity Group downgraded Lundin Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 22nd. Jefferies Financial Group cut 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 research report on Wednesday. Desjardins upgraded Lundin Gold to a "moderate buy" rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets cut Lundin Gold from an "outperform" rating to a "market perform" rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$30.63.

Lundin Gold Stock Down 1.7 %

TSE LUG traded down C$0.54 during midday trading on Friday, hitting C$31.38. 428,800 shares of the company traded hands, compared to its average volume of 281,107. The company has a market cap of C$7.53 billion, a PE ratio of 24.33 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$35.89. The company's 50-day simple moving average is C$32.81 and its 200-day simple moving average is C$27.06.

Lundin Gold Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 20th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Thursday, December 5th. Lundin Gold's dividend payout ratio (DPR) is 82.95%.

Insider Activity at Lundin Gold

In other news, Senior Officer Chester See sold 14,900 shares of the company's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. Also, Director Ronald F. Hochstein sold 16,200 shares of the firm's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total value of C$477,891.90. Insiders have sold a total of 56,840 shares of company stock worth $1,686,209 over the last quarter. Insiders own 58.72% of the company's stock.

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.