Cormark Weighs in on Lundin Gold's FY2024 Earnings (TSE:LUG)

Lundin Gold Inc. (TSE:LUG - Free Report) - Stock analysts at Cormark upped their FY2024 earnings per share estimates for Lundin Gold in a report released on Wednesday, November 6th. Cormark analyst N. Dion now forecasts that the company will post earnings of $2.18 per share for the year, up from their prior estimate of $2.08. Cormark currently has a "Hold" rating and a $32.00 target price on the stock. The consensus estimate for Lundin Gold's current full-year earnings is $2.56 per share. Cormark also issued estimates for Lundin Gold's FY2025 earnings at $2.47 EPS.

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

A number of other analysts have also recently issued reports on LUG. TD Securities upped their target price on Lundin Gold from C$27.00 to C$38.00 in a research report on Friday, October 18th. Jefferies Financial Group raised their target price on shares of Lundin Gold from C$35.00 to C$37.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. National Bankshares upped their price target on shares of Lundin Gold from C$30.75 to C$32.00 and gave the company an "outperform" rating in a research report on Wednesday, August 14th. Raymond James lowered shares of Lundin Gold from an "outperform" rating to a "market perform" rating and lifted their price objective for the company from C$25.00 to C$29.00 in a research note on Monday, September 23rd. Finally, Royal Bank of Canada increased their target price on shares of Lundin Gold from C$25.00 to C$27.00 in a research note on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$29.42.

Lundin Gold Stock Up 2.4 %

Shares of TSE LUG traded up C$0.76 during midday trading on Friday, hitting C$32.67. 308,072 shares of the company's stock were exchanged, compared to its average volume of 274,795. The firm's fifty day simple moving average is C$30.72 and its 200-day simple moving average is C$24.73. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The company has a market cap of C$7.84 billion, a PE ratio of 24.74 and a beta of 1.23. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$35.89.

Insider Buying and Selling at Lundin Gold

In other Lundin Gold news, Senior Officer Chester See sold 14,900 shares of the business's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. In other Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of the business's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of C$29.52, for a total transaction of C$759,826.78. Also, Senior Officer Chester See sold 14,900 shares of the company's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. In the last ninety days, insiders have sold 72,840 shares of company stock worth $2,146,122. Corporate insiders own 58.72% of the company's stock.

Lundin Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were given a dividend of $0.551 per share. This represents a $2.20 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date was Tuesday, September 10th. This is a boost from Lundin Gold's previous quarterly dividend of $0.10. Lundin Gold's dividend payout ratio (DPR) is currently 82.95%.

Lundin Gold Company Profile

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.