Analysts Offer Predictions for Lundin Gold FY2024 Earnings

Lundin Gold Inc. (TSE:LUG - Free Report) - Stock analysts at National Bank Financial raised their FY2024 earnings estimates for shares of Lundin Gold in a note issued to investors on Tuesday, November 12th. National Bank Financial analyst D. Demarco now anticipates that the company will post earnings per share of $2.54 for the year, up from their previous forecast of $2.39. The consensus estimate for Lundin Gold's current full-year earnings is $2.56 per share. National Bank Financial also issued estimates for Lundin Gold's FY2028 earnings at $2.52 EPS.

Several other brokerages also recently issued reports on LUG. Royal Bank of Canada raised their price objective on shares of Lundin Gold from C$25.00 to C$27.00 in a research report on Tuesday, September 10th. National Bankshares raised their price objective on shares of Lundin Gold from C$30.75 to C$32.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 14th. Jefferies Financial Group raised their price objective 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. TD Securities raised their price objective on shares of Lundin Gold from C$27.00 to C$38.00 in a research report on Friday, October 18th. Finally, Scotiabank raised their price objective on shares of Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Lundin Gold presently has an average rating of "Moderate Buy" and a consensus price target of C$29.42.

Lundin Gold Stock Performance

Lundin Gold stock traded down C$0.41 during midday trading on Thursday, hitting C$29.98. 204,632 shares of the company's stock were exchanged, compared to its average volume of 275,825. Lundin Gold has a 12-month low of C$14.23 and a 12-month high of C$35.89. 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 stock has a market cap of C$7.20 billion, a price-to-earnings ratio of 23.56 and a beta of 1.23. The firm's 50 day simple moving average is C$31.05 and its 200 day simple moving average is C$25.11.

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 the consensus estimate 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 for the quarter.

Lundin Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, December 5th. Lundin Gold's dividend payout ratio (DPR) is 82.95%.

Insider Activity at Lundin Gold

In related news, Senior Officer Chester See sold 14,900 shares of the firm's stock in a transaction dated Monday, September 23rd. The shares were 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 Sheila Margaret Colman sold 16,000 shares of Lundin Gold stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total transaction of C$459,913.60. Also, Senior Officer Chester See sold 14,900 shares of Lundin Gold stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. Insiders sold 72,840 shares of company stock worth $2,146,122 over the last 90 days. Company insiders own 58.72% of the company's stock.

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.