FY2024 EPS Forecast for Lundin Gold Boosted by Analyst

Lundin Gold Inc. (TSE:LUG) – Analysts at National Bank Financial boosted their FY2024 EPS estimates for shares of Lundin Gold in a research note issued on Tuesday, October 22nd. National Bank Financial analyst D. Demarco now expects that the company will post earnings per share of $2.39 for the year, up from their previous estimate of $2.13. National Bank Financial has a “Strong-Buy” rating on the stock. 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 FY2025 earnings at $3.42 EPS.

Several other equities analysts have also issued reports on LUG. Raymond James lowered Lundin Gold from an “outperform” rating to a “market perform” rating and boosted their price target for the company from C$25.00 to C$29.00 in a research note on Monday, September 23rd. Jefferies Financial Group increased their target price 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. Cormark lifted their price target on shares of Lundin Gold from C$27.00 to C$32.00 and gave the company a “hold” rating in a research note on Thursday, October 10th. National Bankshares increased their price objective on shares of Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, Scotiabank boosted their target price on 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$29.42.

Lundin Gold Stock Up 0.2 %

Shares of TSE:LUG opened at C$34.67 on Friday. The business’s 50-day moving average is C$29.49 and its 200-day moving average is C$23.74. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$35.89. The company has a market capitalization of C$8.32 billion, a price-to-earnings ratio of 26.88 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41.

Lundin Gold (TSE:LUG) last released its earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of C$412.43 million during the quarter.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th were paid a $0.551 dividend. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $2.20 annualized dividend and a dividend yield of 6.36%. Lundin Gold’s dividend payout ratio is presently 82.95%.

Insider Activity

In related news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total transaction of C$459,913.60. In related news, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold 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. Also, Director Ronald F. Hochstein sold 16,200 shares of the company’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. Insiders sold a total of 72,840 shares of company stock worth $2,146,122 over the last quarter. Insiders own 58.72% of the company’s stock.

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.