Lundin Gold Inc. (TSE:LUG) to Post Q1 2024 Earnings of $0.30 Per Share, Cormark Forecasts

Lundin Gold Inc. (TSE:LUG) – Investment analysts at Cormark issued their Q1 2024 earnings per share estimates for Lundin Gold in a report released on Monday, April 22nd. Cormark analyst N. Dion expects that the company will earn $0.30 per share for the quarter. The consensus estimate for Lundin Gold’s current full-year earnings is $1.36 per share.

Several other equities research analysts have also recently commented on the company. Raymond James raised their target price on Lundin Gold from C$17.50 to C$21.00 in a research note on Tuesday. Scotiabank raised 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 note on Thursday, March 28th. Jefferies Financial Group raised their target price on Lundin Gold from C$19.00 to C$23.00 and gave the stock a “buy” rating in a research note on Monday. National Bankshares raised their target price on Lundin Gold from C$24.50 to C$24.75 in a research note on Friday, April 19th. Finally, Veritas Investment Research raised their target price on Lundin Gold from C$20.90 to C$28.00 in a research note on Friday, April 12th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Lundin Gold has a consensus rating of “Moderate Buy” and a consensus target price of C$22.25.

Lundin Gold Trading Down 0.7 %

Shares of LUG stock opened at C$18.87 on Tuesday. The stock has a 50-day moving average of C$17.70 and a 200-day moving average of C$16.66. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$20.36. The stock has a market cap of C$4.49 billion, a price-to-earnings ratio of 18.57 and a beta of 1.10. The company has a current ratio of 2.86, a quick ratio of 1.41 and a debt-to-equity ratio of 31.98.

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

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a $0.269 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.08 dividend on an annualized basis and a yield of 5.70%. Lundin Gold’s dividend payout ratio (DPR) is presently 52.94%.

Insider Buying and Selling at Lundin Gold

In related news, Director Ronald F. Hochstein sold 100,000 shares of Lundin Gold stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of C$16.73, for a total transaction of C$1,673,330.00. Insiders own 59.46% 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.