FY2024 Earnings Forecast for Lundin Gold Issued By Cormark

Lundin Gold Inc. (TSE:LUG - Free Report) - Cormark boosted their FY2024 earnings per share estimates for Lundin Gold in a research note issued on Thursday, December 5th. Cormark analyst N. Dion now expects that the company will earn $2.35 per share for the year, up from their previous estimate of $2.34. Cormark has a "Hold" rating and a $32.00 price target 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 $2.51 EPS.

LUG has been the subject of a number of other reports. Raymond James lowered Lundin Gold from an "outperform" rating to a "market perform" rating and lifted their target price for the company from C$25.00 to C$29.00 in a report on Monday, September 23rd. Desjardins raised Lundin Gold to a "moderate buy" rating in a research report on Thursday, October 31st. National Bankshares raised their target price on shares of Lundin Gold from C$30.75 to C$32.00 and gave the company an "outperform" rating in a report on Wednesday, August 14th. Jefferies Financial Group lifted their price target on shares of Lundin Gold from C$35.00 to C$37.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Finally, Canaccord Genuity Group downgraded shares of Lundin Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lundin Gold presently has an average rating of "Moderate Buy" and an average target price of C$30.83.

Lundin Gold Trading Down 0.3 %

TSE:LUG traded down C$0.11 on Friday, reaching C$34.64. 217,256 shares of the company's stock were exchanged, compared to its average volume of 276,469. The firm has a market capitalization of C$8.31 billion, a price-to-earnings ratio of 26.85 and a beta of 1.23. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$35.89. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. The business has a fifty day moving average of C$32.46 and a 200-day moving average of C$26.60.

Lundin Gold (TSE:LUG - Get Free Report) last announced its 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 return on equity of 22.88% and a net margin of 24.30%. The company had revenue of C$440.77 million for the quarter.

Insider Activity at Lundin Gold

In other Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total value of C$759,826.78. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the company'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 worth $2,146,122 in the last three months. Insiders own 58.72% of the company's stock.

Lundin Gold Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 20th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, December 5th. Lundin Gold's dividend payout ratio is presently 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.