FY2024 EPS Estimates for Lundin Gold Boosted by Analyst

Lundin Gold Inc. (TSE:LUG) – Equities researchers at National Bank Financial boosted their FY2024 earnings per share (EPS) estimates for Lundin Gold in a research report issued to clients and investors on Tuesday, November 12th. National Bank Financial analyst D. Demarco now forecasts 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 research firms have also weighed in on LUG. Canaccord Genuity Group lowered shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Cormark upped their price target on shares of Lundin Gold from C$27.00 to C$32.00 and gave the stock a “hold” rating in a research note on Thursday, October 10th. Royal Bank of Canada lifted their price objective on Lundin Gold from C$25.00 to C$27.00 in a research report on Tuesday, September 10th. National Bankshares boosted their target price on Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Finally, Scotiabank raised their price target on Lundin Gold from C$23.50 to C$25.50 in a research note on Monday, August 19th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$29.42.

Lundin Gold Price Performance

TSE LUG opened at C$29.89 on Thursday. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The firm has a market capitalization of C$7.17 billion, a price-to-earnings ratio of 23.17 and a beta of 1.23. The company has a 50 day simple moving average of C$31.05 and a 200-day simple moving average of C$25.11. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$35.89.

Lundin Gold (TSE:LUG) last announced its quarterly earnings data on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, topping 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 firm had revenue of C$440.77 million during the quarter.

Insider Buying and Selling

In related news, Senior Officer Chester See sold 14,900 shares of Lundin Gold stock in a transaction on Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total value of C$448,490.00. Also, Director Ronald F. Hochstein sold 16,200 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total transaction of C$477,891.90. In the last ninety days, insiders sold 72,840 shares of company stock worth $2,146,122. 58.72% of the stock is currently owned by insiders.

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 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Thursday, December 5th. 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.