Brokers Offer Predictions for Lundin Gold FY2024 Earnings

Lundin Gold Inc. (TSE:LUG) – Equities research analysts at National Bank Financial decreased their FY2024 earnings estimates for Lundin Gold in a research report issued on Monday, February 10th. National Bank Financial analyst D. Demarco now anticipates that the company will post earnings of $2.47 per share for the year, down from their prior forecast of $2.54. 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 Q4 2024 earnings at $0.73 EPS and FY2025 earnings at $3.60 EPS.

Other analysts have also recently issued research reports about the company. BMO Capital Markets cut Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. Scotiabank raised their price objective on Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. Cormark raised shares of Lundin Gold from a “market perform” rating to a “buy” rating and increased their price target for the stock from C$35.00 to C$38.00 in a research report on Friday, January 10th. Jefferies Financial Group downgraded shares of Lundin Gold from a “buy” rating to a “hold” rating and lowered their price objective for the company from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Finally, CIBC increased their target price on shares of Lundin Gold from C$34.00 to C$41.00 in a research report on Monday, December 2nd. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$33.70.

Lundin Gold Trading Down 2.1 %

Lundin Gold stock opened at C$38.36 on Thursday. The company has a 50 day moving average price of C$33.92 and a 200 day moving average price of C$31.10. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$41.28. The firm has a market capitalization of C$9.21 billion, a price-to-earnings ratio of 29.74 and a beta of 1.23.

Lundin Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 20th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Thursday, December 5th. Lundin Gold’s payout ratio is 82.95%.

Insiders Place Their Bets

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total transaction of C$355,001.16. Company 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.