Lundin Gold FY2024 EPS Estimate Increased by Raymond James

Lundin Gold Inc. (TSE:LUG) – Equities researchers at Raymond James increased their FY2024 earnings per share (EPS) estimates for Lundin Gold in a research report issued on Monday, January 6th. Raymond James analyst C. Stanley now anticipates that the company will post earnings per share of $2.36 for the year, up from their prior forecast of $2.10. Raymond James currently has a “Market Perform” rating and a $29.00 target price on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share. Raymond James also issued estimates for Lundin Gold’s Q4 2024 earnings at $0.60 EPS, Q2 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.72 EPS and FY2025 earnings at $2.57 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. The company had revenue of C$440.77 million for the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%.

Other equities analysts have also recently issued reports about the company. CIBC boosted their price target on Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. BMO Capital Markets downgraded shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Royal Bank of Canada upped their target price on shares of Lundin Gold from C$27.00 to C$31.00 in a report on Friday, December 6th. Canaccord Genuity Group lowered shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, Desjardins upgraded shares of Lundin Gold to a “moderate buy” rating in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lundin Gold has a consensus rating of “Moderate Buy” and a consensus target price of C$32.55.

Lundin Gold Trading Up 1.3 %

Shares of Lundin Gold stock opened at C$31.04 on Wednesday. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$35.89. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The business has a 50 day moving average price of C$32.08 and a 200 day moving average price of C$28.53. The company has a market capitalization of C$7.45 billion, a P/E ratio of 24.06 and a beta of 1.23.

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.58%. Lundin Gold’s payout ratio is 82.95%.

Insider Buying and Selling

In related news, Director Pablo Mir sold 11,535 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total transaction of C$355,001.16. Corporate insiders own 58.72% of the company’s stock.

Lundin Gold Company Profile

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.