Lundin Gold FY2024 EPS Raised by National Bank Financial

Lundin Gold Inc. (TSE:LUG) – Equities research analysts at National Bank Financial lifted their FY2024 earnings per share estimates for shares of Lundin Gold in a report released on Tuesday, November 12th. National Bank Financial analyst D. Demarco now anticipates that the company will earn $2.54 per share for the year, up from their prior forecast of $2.39. 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 FY2028 earnings at $2.52 EPS.

Lundin Gold (TSE:LUG) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.60 by C$0.16. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The company had revenue of C$440.77 million during the quarter.

A number of other equities research analysts have also recently weighed in on LUG. Canaccord Genuity Group cut Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Raymond James downgraded Lundin Gold from an “outperform” rating to a “market perform” rating and lifted their target price for the company from C$25.00 to C$29.00 in a research note on Monday, September 23rd. Jefferies Financial Group increased their price target on Lundin Gold from C$35.00 to C$37.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. CIBC raised their price target on Lundin Gold from C$28.00 to C$34.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, Scotiabank upped their price objective on shares of Lundin Gold from C$23.50 to C$25.50 in a report on Monday, August 19th. Four equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$29.42.

Lundin Gold Trading Down 1.6 %

Lundin Gold stock opened at C$29.89 on Thursday. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$35.89. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. The firm has a market capitalization of C$7.17 billion, a price-to-earnings ratio of 23.17 and a beta of 1.23. The firm has a 50-day moving average price of C$31.05 and a two-hundred day moving average price of C$25.11.

Insider Buying and Selling

In related news, Senior Officer Terrence Smith sold 25,740 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total value of C$759,826.78. Also, Senior Officer Chester See sold 14,900 shares of Lundin Gold stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. Insiders have sold 72,840 shares of company stock worth $2,146,122 in the last ninety days. 58.72% of the stock is currently owned by corporate insiders.

Lundin Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.68%. Lundin Gold’s dividend 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.