FY2024 Earnings Forecast for Lundin Gold Issued By Cormark

Lundin Gold Inc. (TSE:LUG - Free Report) - Research analysts at Cormark raised their FY2024 earnings per share estimates for Lundin Gold in a note issued to investors on Monday, November 11th. Cormark analyst N. Dion now expects that the company will earn $2.34 per share for the year, up from their previous estimate of $2.18. Cormark has a "Hold" rating and a $32.00 price objective on the stock. The consensus estimate for Lundin Gold's current full-year earnings is $2.56 per share. Cormark also issued estimates for Lundin Gold's FY2025 earnings at $2.49 EPS.

A number of other research firms have also recently weighed in on LUG. Royal Bank of Canada upped their price target on Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. TD Securities raised their price target on Lundin Gold from C$27.00 to C$38.00 in a research report on Friday, October 18th. CIBC boosted their price objective on shares of Lundin Gold from C$28.00 to C$34.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 11th. Raymond James downgraded shares of Lundin Gold from an "outperform" rating to a "market perform" rating and raised their target price for the company from C$25.00 to C$29.00 in a report on Monday, September 23rd. Finally, Scotiabank lifted their target price on shares of Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th. Four investment 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's stock. According to MarketBeat, Lundin Gold presently has a consensus rating of "Moderate Buy" and an average price target of C$29.42.

Lundin Gold Price Performance

LUG traded down C$0.08 on Wednesday, hitting C$30.39. 374,309 shares of the company were exchanged, compared to its average volume of 276,149. Lundin Gold has a fifty-two week low of C$14.23 and a fifty-two week 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 firm has a market capitalization of C$7.29 billion, a P/E ratio of 23.62 and a beta of 1.23. The business's fifty day moving average is C$30.97 and its 200 day moving average is C$25.03.

Lundin Gold (TSE:LUG - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of C$440.77 million during the quarter.

Insider Buying and Selling at Lundin Gold

In other news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total value of C$459,913.60. In other news, Senior Officer Terrence Smith sold 25,740 shares of Lundin Gold stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of C$29.52, for a total transaction of C$759,826.78. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the business's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total transaction of C$459,913.60. Insiders have sold a total of 72,840 shares of company stock valued at $2,146,122 over the last ninety days. Corporate insiders own 58.72% of the company's stock.

Lundin Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a $0.20 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.80 annualized dividend and a yield of 2.63%. Lundin Gold's payout ratio is 82.95%.

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.