Cormark Analysts Decrease Earnings Estimates for Lundin Gold

Lundin Gold Inc. (TSE:LUG) – Stock analysts at Cormark lowered their FY2024 earnings estimates for shares of Lundin Gold in a report issued on Thursday, February 20th. Cormark analyst N. Dion now anticipates that the company will post earnings per share of $2.47 for the year, down from their prior forecast of $2.51. Cormark currently has a “Hold” rating on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada lifted their price objective on shares of Lundin Gold from C$31.00 to C$35.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. CIBC lifted their price objective on shares of Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. Desjardins lifted their price objective on shares of Lundin Gold from C$38.00 to C$42.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group downgraded shares of Lundin Gold from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$37.00 to C$36.00 in a report on Wednesday, December 11th. Finally, Scotiabank lifted their price objective on shares of Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. Seven research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$34.45.

Lundin Gold Trading Up 3.4 %

Shares of TSE LUG opened at C$39.67 on Monday. The firm has a market capitalization of C$6.77 billion, a PE ratio of 22.27 and a beta of 1.23. Lundin Gold has a 1 year low of C$15.12 and a 1 year high of C$41.28. The firm’s 50-day moving average is C$34.55 and its 200-day moving average is C$31.83.

Lundin Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were given a $0.20 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.02%. Lundin Gold’s payout ratio is presently 60.06%.

Insiders Place Their Bets

In other news, Director Pablo Mir sold 11,535 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total value of C$355,001.16. Corporate 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.