FY2024 EPS Estimates for Lundin Gold Raised by Desjardins

Lundin Gold Inc. (TSE:LUG - Free Report) - Equities researchers at Desjardins increased their FY2024 earnings estimates for Lundin Gold in a research report issued to clients and investors on Thursday, November 7th. Desjardins analyst A. Carson now forecasts that the company will post earnings of $2.36 per share for the year, up from their prior forecast of $2.15. Desjardins currently has a "Moderate Buy" rating on the stock. The consensus estimate for Lundin Gold's current full-year earnings is $2.56 per share. Desjardins also issued estimates for Lundin Gold's FY2025 earnings at $2.61 EPS.

Other analysts have also issued reports about the stock. Jefferies Financial Group lifted their price target on shares of Lundin Gold from C$35.00 to C$37.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their price objective on shares of Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. Canaccord Genuity Group downgraded shares of Lundin Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 22nd. Raymond James downgraded shares of Lundin Gold from an "outperform" rating to a "market perform" rating and raised their price objective for the stock from C$25.00 to C$29.00 in a report on Monday, September 23rd. Finally, CIBC raised their price objective on shares of Lundin Gold from C$28.00 to C$34.00 and gave the stock an "outperform" rating in a report on Wednesday, September 11th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$29.42.

Lundin Gold Stock Performance

Shares of LUG stock traded down C$2.08 during trading hours on Monday, reaching C$30.59. The company had a trading volume of 158,110 shares, compared to its average volume of 274,260. The business has a fifty day moving average price of C$30.83 and a 200-day moving average price of C$24.87. Lundin Gold has a one year low of C$14.23 and a one year high of C$35.89. The firm has a market cap of C$7.34 billion, a PE ratio of 25.33 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98.

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

Lundin Gold Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.62%. The ex-dividend date is Thursday, December 5th. Lundin Gold's dividend payout ratio is currently 82.95%.

Insider Buying and Selling at Lundin Gold

In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the business'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. In other news, Director Ronald F. Hochstein sold 16,200 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of C$29.50, for a total value of C$477,891.90. Also, 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 transaction of C$459,913.60. Insiders have sold 72,840 shares of company stock valued at $2,146,122 over the last 90 days. 58.72% of the stock is currently owned by corporate insiders.

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.