Raymond James Analysts Decrease Earnings Estimates for Lundin Gold Inc. (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Investment analysts at Raymond James decreased their Q1 2024 earnings estimates for Lundin Gold in a report issued on Tuesday, April 23rd. Raymond James analyst C. Stanley now expects that the company will earn $0.29 per share for the quarter, down from their prior estimate of $0.34. The consensus estimate for Lundin Gold’s current full-year earnings is $1.36 per share. Raymond James also issued estimates for Lundin Gold’s Q3 2024 earnings at $0.51 EPS, Q4 2024 earnings at $0.52 EPS and FY2024 earnings at $1.70 EPS.

Lundin Gold (TSE:LUG) last announced its quarterly earnings results on Thursday, February 22nd. The company reported C$0.19 EPS for the quarter, missing the consensus estimate of C$0.21 by C($0.02). Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%. The company had revenue of C$259.63 million during the quarter.

LUG has been the topic of a number of other research reports. Scotiabank lifted their target price on Lundin Gold from C$20.00 to C$21.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 28th. Jefferies Financial Group boosted their target price on Lundin Gold from C$19.00 to C$23.00 and gave the company a “buy” rating in a report on Monday. National Bankshares increased their price target on Lundin Gold from C$24.50 to C$24.75 in a report on Friday, April 19th. Cormark boosted their price objective on shares of Lundin Gold from C$22.00 to C$23.00 in a research note on Friday, April 19th. Finally, Veritas Investment Research lifted their target price on shares of Lundin Gold from C$20.90 to C$28.00 in a report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$22.25.

Lundin Gold Trading Up 2.5 %

TSE LUG opened at C$19.35 on Friday. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$20.36. The company has a market capitalization of C$4.61 billion, a price-to-earnings ratio of 19.04 and a beta of 1.10. The company has a debt-to-equity ratio of 31.98, a current ratio of 2.86 and a quick ratio of 1.41. The firm’s fifty day moving average price is C$17.78 and its 200 day moving average price is C$16.67.

Insider Activity

In related news, Director Ronald F. Hochstein sold 100,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of C$16.73, for a total value of C$1,673,330.00. Company insiders own 59.46% of the company’s stock.

Lundin Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a $0.269 dividend. This represents a $1.08 annualized dividend and a yield of 5.56%. The ex-dividend date of this dividend was Thursday, March 7th. Lundin Gold’s dividend payout ratio (DPR) is 52.94%.

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.