Raymond James Analysts Boost Earnings Estimates for Lundin Gold Inc. (TSE:LUG)

Lundin Gold Inc. (TSE:LUG - Free Report) - Equities researchers at Raymond James increased their Q3 2024 earnings per share (EPS) estimates for Lundin Gold in a report released on Monday, September 23rd. Raymond James analyst C. Stanley now anticipates that the company will earn $0.57 per share for the quarter, up from their previous estimate of $0.53. Raymond James currently has a "Market Perform" rating and a $29.00 target price on the stock. The consensus estimate for Lundin Gold's current full-year earnings is $2.56 per share. Raymond James also issued estimates for Lundin Gold's Q4 2024 earnings at $0.64 EPS and FY2024 earnings at $2.09 EPS.

LUG has been the subject of a number of other reports. National Bankshares increased their price objective on 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 target price on shares of Lundin Gold from C$26.00 to C$29.00 in a research note on Monday, September 9th. CIBC boosted their price target on shares of Lundin Gold from C$28.00 to C$34.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 11th. Cormark increased their target price on Lundin Gold from C$26.00 to C$27.00 in a research note on Friday, August 9th. Finally, Royal Bank of Canada boosted their price objective on shares of Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$27.42.

Lundin Gold Stock Performance

Shares of LUG traded up C$0.30 during mid-day trading on Wednesday, hitting C$29.71. 267,206 shares of the company's stock were exchanged, compared to its average volume of 268,955. The firm has a market capitalization of C$7.13 billion, a P/E ratio of 23.21 and a beta of 1.23. Lundin Gold has a fifty-two week low of C$14.23 and a fifty-two week high of C$30.64. The business's 50 day moving average is C$25.96 and its two-hundred day moving average is C$21.81. 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 (TSE:LUG - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share for the quarter, missing analysts' consensus estimates of C$0.62 by C($0.07). The business had revenue of C$412.43 million for the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%.

Lundin Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th will be issued a dividend of $0.551 per share. This represents a $2.20 dividend on an annualized basis and a yield of 7.42%. The ex-dividend date is Tuesday, September 10th. This is a boost from Lundin Gold's previous quarterly dividend of $0.10. Lundin Gold's dividend payout ratio is 85.16%.

Insiders Place Their Bets

In related news, Senior Officer Chester See sold 14,900 shares of the business'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 news, Director Ronald F. Hochstein sold 16,200 shares of Lundin Gold stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total value of C$477,891.90. Also, Senior Officer Chester See sold 14,900 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. Over the last 90 days, insiders sold 72,840 shares of company stock valued at $2,146,122. Corporate insiders own 58.75% 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.