Q1 2024 EPS Estimates for Lundin Gold Inc. (TSE:LUG) Decreased by Analyst

Lundin Gold Inc. (TSE:LUG) – Raymond James reduced their Q1 2024 earnings estimates for Lundin Gold in a research note 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 previous forecast 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 issued its 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). The firm 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%.

Several other brokerages have also issued reports on LUG. Canaccord Genuity Group lifted their price target on Lundin Gold from C$22.75 to C$23.25 in a research note on Tuesday. Jefferies Financial Group boosted 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. Scotiabank raised their price target on shares of Lundin Gold from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a research note on Thursday, March 28th. National Bankshares upped their price objective on shares of Lundin Gold from C$24.50 to C$24.75 in a research report on Friday, April 19th. Finally, Cormark increased their price objective on shares of Lundin Gold from C$22.00 to C$23.00 in a research note on Friday, April 19th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Lundin Gold has an average rating of “Moderate Buy” and an average target price of C$22.25.

Lundin Gold Stock Up 2.5 %

Shares of LUG opened at C$19.35 on Friday. The firm has a 50 day simple moving average of C$17.78 and a two-hundred day simple moving average of C$16.67. 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 has a one year low of C$14.23 and a one year high of C$20.36. The company has a market cap of C$4.61 billion, a P/E ratio of 19.04 and a beta of 1.10.

Lundin Gold Cuts Dividend

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

Insider Buying and Selling

In other Lundin Gold news, Director Ronald F. Hochstein sold 100,000 shares of the stock in a transaction dated 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. 59.46% of the stock is owned by insiders.

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.