FY2024 EPS Estimates for Lundin Gold Boosted by Desjardins

Lundin Gold Inc. (TSE:LUG - Free Report) - Research analysts at Desjardins increased their FY2024 earnings estimates for Lundin Gold in a research report issued to clients and investors on Wednesday, January 8th. Desjardins analyst A. Carson now anticipates that the company will post earnings of $2.67 per share for the year, up from their prior estimate of $2.36. 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 FY2026 earnings at $3.05 EPS and FY2027 earnings at $2.63 EPS.

Several other brokerages have also recently issued reports on LUG. Canaccord Genuity Group cut Lundin Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 22nd. TD Securities boosted their price target on shares of Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Royal Bank of Canada increased their price objective on shares of Lundin Gold from C$27.00 to C$31.00 in a research report on Friday, December 6th. Cormark raised shares of Lundin Gold from a "market perform" rating to a "buy" rating and lifted their price objective for the stock from C$35.00 to C$38.00 in a research report on Friday. Finally, Scotiabank dropped their target price on Lundin Gold from C$31.50 to C$30.00 in a report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Lundin Gold has an average rating of "Moderate Buy" and an average price target of C$33.15.

Lundin Gold Stock Up 3.0 %

LUG traded up C$0.97 on Friday, hitting C$33.84. 448,073 shares of the company were exchanged, compared to its average volume of 311,323. The firm has a 50-day moving average price of C$32.00 and a two-hundred day moving average price of C$28.64. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$35.89. The company has a market cap of C$8.12 billion, a price-to-earnings ratio of 26.23 and a beta of 1.23.

Lundin Gold (TSE:LUG - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, topping the consensus estimate of C$0.60 by C$0.16. The business 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%.

Lundin Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Thursday, December 5th. Lundin Gold's dividend payout ratio (DPR) is currently 82.95%.

Insider Activity

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total value of C$355,001.16. Company 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.