Lundin Gold FY2024 EPS Increased by National Bank Financial

Lundin Gold Inc. (TSE:LUG) – Equities researchers at National Bank Financial lifted their FY2024 earnings per share (EPS) estimates for Lundin Gold in a note issued to investors on Tuesday, November 12th. National Bank Financial analyst D. Demarco now forecasts that the company will earn $2.54 per share for the year, up from their prior estimate 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.

A number of other research firms have also recently weighed in on LUG. Scotiabank increased their price objective on shares of Lundin Gold from C$23.50 to C$25.50 in a research report on Monday, August 19th. Raymond James cut Lundin Gold from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from C$25.00 to C$29.00 in a research note on Monday, September 23rd. TD Securities boosted their price objective on Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Desjardins upgraded Lundin Gold to a “moderate buy” rating in a report on Thursday, October 31st. Finally, CIBC boosted their price target on shares of Lundin Gold from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lundin Gold has an average rating of “Moderate Buy” and a consensus price target of C$29.42.

Lundin Gold Trading Down 0.3 %

Shares of LUG stock opened at C$30.39 on Thursday. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$35.89. The firm has a market cap of C$7.29 billion, a PE ratio of 23.56 and a beta of 1.23. The company has a 50-day moving average of C$31.05 and a two-hundred day moving average of C$25.11. 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 quarterly earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.60 by C$0.16. The business had revenue of C$440.77 million during the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%.

Lundin Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.63%. Lundin Gold’s dividend payout ratio is currently 82.95%.

Insider Activity

In other Lundin Gold news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total value of C$459,913.60. In related news, Senior Officer Chester See sold 14,900 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold stock in a transaction that occurred 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. In the last 90 days, insiders have sold 72,840 shares of company stock worth $2,146,122. 58.72% of the stock is currently owned by insiders.

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.