Analysts Set Expectations for Lundin Gold Inc.’s FY2024 Earnings (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Research analysts at Cormark raised their FY2024 earnings estimates for shares of Lundin Gold in a research note issued to investors on Thursday, March 28th. Cormark analyst N. Dion now forecasts that the company will earn $1.25 per share for the year, up from their previous estimate of $1.24. The consensus estimate for Lundin Gold’s current full-year earnings is $1.43 per share.

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

Other equities research analysts have also recently issued research reports about the stock. Scotiabank raised their price objective on shares of Lundin Gold from C$20.00 to C$21.00 and gave the stock a “sector perform” rating in a research note on Thursday. Jefferies Financial Group set a C$19.00 target price on shares of Lundin Gold and gave the company a “buy” rating in a research report on Thursday, February 29th. Raymond James set a C$17.50 price objective on shares of Lundin Gold and gave the stock an “outperform” rating in a research report on Thursday, January 25th. BMO Capital Markets raised their price objective on shares of Lundin Gold from C$20.00 to C$22.00 in a research report on Wednesday, December 13th. Finally, National Bankshares raised their price objective on shares of Lundin Gold from C$19.00 to C$20.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$20.15.

Lundin Gold Price Performance

Shares of TSE LUG opened at C$19.04 on Friday. The stock has a market capitalization of C$4.53 billion, a price-to-earnings ratio of 18.67 and a beta of 1.10. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$19.42. The firm’s 50 day simple moving average is C$16.46 and its 200-day simple moving average is C$16.18. The company has a debt-to-equity ratio of 31.98, a current ratio of 2.86 and a quick ratio of 1.41.

Lundin Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a $0.269 dividend. This represents a $1.08 annualized dividend and a dividend yield of 5.65%. The ex-dividend date was Thursday, March 7th. Lundin Gold’s payout ratio is 52.94%.

Insider Activity

In other news, Director Ronald F. Hochstein sold 100,000 shares of the firm’s stock in a transaction that occurred on 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. Insiders own 59.44% of the company’s stock.

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.