What is Cormark’s Estimate for Lundin Gold FY2024 Earnings?

Lundin Gold Inc. (TSE:LUG) – Research analysts at Cormark lifted their FY2024 earnings per share (EPS) estimates for Lundin Gold in a note issued to investors on Thursday, December 5th. Cormark analyst N. Dion now expects that the company will post earnings per share of $2.35 for the year, up from their prior forecast of $2.34. Cormark currently has a “Hold” rating and a $32.00 target price 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 several other reports. Scotiabank lifted their price objective on Lundin Gold from C$25.50 to C$31.50 in a research report on Thursday, November 21st. Desjardins upgraded Lundin Gold to a “moderate buy” rating in a report on Thursday, October 31st. National Bankshares boosted their price target 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. Royal Bank of Canada raised their price objective on shares of Lundin Gold from C$27.00 to C$31.00 in a research report on Friday. Finally, Raymond James downgraded shares of Lundin Gold from an “outperform” rating to a “market perform” rating and boosted their target price for the company from C$25.00 to C$29.00 in a research report on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$30.83.

Lundin Gold Price Performance

Shares of TSE LUG opened at C$34.64 on Friday. The company has a market capitalization of C$8.31 billion, a PE ratio of 26.85 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 has a twelve month low of C$14.23 and a twelve month high of C$35.89. The firm has a fifty day simple moving average of C$32.46 and a 200 day simple moving average of C$26.60.

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

Insiders Place Their Bets

In related news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the stock in a transaction 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, Director Ronald F. Hochstein sold 16,200 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of C$29.50, for a total value of C$477,891.90. Over the last 90 days, insiders have sold 72,840 shares of company stock worth $2,146,122. 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. Shareholders of record on Friday, December 20th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.31%. Lundin Gold’s dividend payout ratio (DPR) is presently 82.95%.

About Lundin Gold

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.