What is Cormark’s Forecast for Lundin Gold Q3 Earnings?

Lundin Gold Inc. (TSE:LUG) – Investment analysts at Cormark issued their Q3 2024 EPS estimates for Lundin Gold in a research note issued on Wednesday, October 23rd. Cormark analyst N. Dion forecasts that the company will post earnings per share of $0.68 for the quarter. Cormark has a “Hold” rating and a $32.00 price target on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share.

LUG has been the subject of a number of other reports. Scotiabank raised their price target on shares of Lundin Gold from C$23.50 to C$25.50 in a report on Monday, August 19th. Raymond James lowered Lundin Gold from an “outperform” rating to a “market perform” rating and boosted their target price for the company from C$25.00 to C$29.00 in a research report on Monday, September 23rd. CIBC increased their price target on Lundin Gold from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Royal Bank of Canada boosted their price objective on Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. Finally, National Bank Financial raised Lundin Gold from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 7th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lundin Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of C$29.42.

Lundin Gold Stock Performance

TSE:LUG opened at C$34.19 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$35.89. The company has a fifty day moving average of C$29.67 and a 200-day moving average of C$23.82. The firm has a market capitalization of C$8.21 billion, a P/E ratio of 26.50 and a beta of 1.23.

Lundin Gold (TSE:LUG) last announced its earnings results on Thursday, August 8th. The company reported C$0.55 EPS for the quarter, missing the consensus estimate of C$0.62 by C($0.07). The business had revenue of C$412.43 million for the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%.

Insider Transactions at Lundin Gold

In related news, Senior Officer Chester See sold 14,900 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total transaction of C$448,490.00. In other news, Senior Officer Chester See sold 14,900 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. Also, Director Ronald F. Hochstein sold 16,200 shares of Lundin Gold stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total value of C$477,891.90. Insiders sold a total of 72,840 shares of company stock worth $2,146,122 in the last quarter. 58.72% of the stock is currently owned by corporate insiders.

Lundin Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were issued a dividend of $0.551 per share. This represents a $2.20 dividend on an annualized basis and a yield of 6.45%. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, September 10th. Lundin Gold’s payout ratio is currently 82.95%.

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.