Lundin Gold FY2024 EPS Estimate Increased by Raymond James

Lundin Gold Inc. (TSE:LUG - Free Report) - Equities research analysts at Raymond James increased their FY2024 earnings per share estimates for shares of Lundin Gold in a research note issued on Monday, October 28th. Raymond James analyst C. Stanley now anticipates that the company will post earnings of $2.10 per share for the year, up from their prior forecast of $2.09. Raymond James has a "Market Perform" rating and a $29.00 price target 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 Q1 2025 earnings at $0.62 EPS and FY2025 earnings at $2.50 EPS.

A number of other research firms have also commented on LUG. CIBC upped their price target on Lundin Gold from C$28.00 to C$34.00 and gave the company an "outperform" rating in a research report on Wednesday, September 11th. Royal Bank of Canada upped their price target on Lundin Gold from C$25.00 to C$27.00 in a research report on Tuesday, September 10th. Jefferies Financial Group upped their price target on Lundin Gold from C$35.00 to C$37.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. National Bank Financial upgraded Lundin Gold from a "hold" rating to a "strong-buy" rating in a research report on Sunday, July 7th. Finally, Canaccord Genuity Group lowered Lundin Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lundin Gold has an average rating of "Moderate Buy" and a consensus target price of C$29.42.

Lundin Gold Trading Down 0.3 %

Shares of TSE LUG traded down C$0.11 during trading on Wednesday, reaching C$34.17. The company had a trading volume of 157,205 shares, compared to its average volume of 273,078. The company's fifty day moving average price is C$29.96 and its 200-day moving average price is C$24.10. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$35.89. The stock has a market cap of C$8.20 billion, a P/E ratio of 26.57 and a beta of 1.23. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28.

Lundin Gold (TSE:LUG - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 EPS for the quarter, missing analysts' consensus estimates of C$0.62 by C($0.07). Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The company had revenue of C$412.43 million during the quarter.

Lundin Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were paid a dividend of $0.551 per share. This is an increase from Lundin Gold's previous quarterly dividend of $0.10. This represents a $2.20 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date of this dividend was Tuesday, September 10th. Lundin Gold's dividend payout ratio is 82.95%.

Insider Buying and Selling

In related news, Senior Officer Chester See sold 14,900 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total transaction of C$448,490.00. In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total value of C$459,913.60. Also, Senior Officer Chester See sold 14,900 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. In the last three months, insiders have sold 72,840 shares of company stock valued at $2,146,122. 58.72% of the stock is owned by company 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.