Scotiabank Analysts Cut Earnings Estimates for Lundin Gold

Lundin Gold Inc. (TSE:LUG - Free Report) - Equities researchers at Scotiabank reduced their FY2024 earnings per share (EPS) estimates for Lundin Gold in a note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Habib now forecasts that the company will post earnings of $1.67 per share for the year, down from their previous estimate of $1.85. The consensus estimate for Lundin Gold's current full-year earnings is $2.56 per share. Scotiabank also issued estimates for Lundin Gold's FY2025 earnings at $1.74 EPS and FY2026 earnings at $2.01 EPS.

Other research analysts have also recently issued research reports about the stock. BMO Capital Markets cut shares of Lundin Gold from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 10th. CIBC upped their price objective on 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 note on Tuesday, October 22nd. Cormark upgraded Lundin Gold from a "market perform" rating to a "buy" rating and upped their price target for the stock from C$35.00 to C$38.00 in a research note on Friday. Finally, Royal Bank of Canada lifted their price objective on shares of Lundin Gold from C$27.00 to C$31.00 in a research report on Friday, December 6th. Five 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 company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$33.15.

Lundin Gold Price Performance

Shares of LUG traded up C$0.97 during mid-day trading on Friday, reaching C$33.84. The stock had a trading volume of 448,073 shares, compared to its average volume of 311,323. The business has a fifty day moving average of C$32.00 and a 200 day moving average of C$28.64. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98. The firm 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 has a 12 month low of C$14.23 and a 12 month high of C$35.89.

Lundin Gold (TSE:LUG - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$0.76 earnings per share for the quarter, beating analysts' consensus estimates of C$0.60 by C$0.16. The firm 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%.

Insiders Place Their Bets

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

Lundin Gold Cuts Dividend

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

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.