Desjardins Estimates Lundin Gold’s FY2024 Earnings (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Desjardins upped their FY2024 earnings per share (EPS) estimates for Lundin Gold in a research report issued on Wednesday, January 8th. Desjardins analyst A. Carson now expects that the company will earn $2.67 per share for the year, up from their previous forecast of $2.36. Desjardins currently has a “Moderate Buy” rating on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share. Desjardins also issued estimates for Lundin Gold’s FY2026 earnings at $3.05 EPS and FY2027 earnings at $2.63 EPS.

LUG has been the topic of several other research reports. Cormark raised Lundin Gold from a “market perform” rating to a “buy” rating and lifted their target price for the company from C$35.00 to C$38.00 in a research note on Friday. Raymond James downgraded 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 note on Monday, September 23rd. CIBC increased their price target on shares of Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. Scotiabank lowered their price target on Lundin Gold from C$31.50 to C$30.00 in a report on Tuesday, December 10th. Finally, TD Securities lifted their price objective on Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lundin Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of C$33.15.

Lundin Gold Stock Performance

Shares of LUG stock opened at C$33.84 on Friday. The company has a market capitalization of C$8.12 billion, a price-to-earnings ratio of 26.23 and a beta of 1.23. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$35.89. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28. The stock’s fifty day simple moving average is C$32.00 and its 200-day simple moving average is C$28.64.

Lundin Gold (TSE:LUG) last announced its 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%.

Lundin Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 20th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Thursday, December 5th. Lundin Gold’s dividend payout ratio is 82.95%.

Insider Buying and Selling at Lundin Gold

In other news, Director Pablo Mir sold 11,535 shares of the company’s 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. Company 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.