Scotiabank Analysts Cut Earnings Estimates for Lundin Gold

Lundin Gold Inc. (TSE:LUG) – Scotiabank lowered their FY2024 earnings per share (EPS) estimates for shares of Lundin Gold in a research report issued on Wednesday, January 8th. Scotiabank analyst O. Habib now anticipates that the company will post earnings per share of $1.67 for the year, down from their previous forecast of $1.85. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share. Scotiabank also issued estimates for Lundin Gold’s FY2025 earnings at $1.74 EPS and FY2026 earnings at $2.01 EPS.

A number of other research firms have also issued reports on LUG. Desjardins raised Lundin Gold to a “moderate buy” rating in a research note on Thursday, October 31st. CIBC increased their price objective on Lundin Gold from C$34.00 to C$41.00 in a research note on Monday, December 2nd. BMO Capital Markets cut Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. Cormark upgraded shares of Lundin Gold from a “market perform” rating to a “buy” rating and upped their target price for the company from C$35.00 to C$38.00 in a report on Friday. Finally, Canaccord Genuity Group downgraded shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lundin Gold has a consensus rating of “Moderate Buy” and a consensus target price of C$33.15.

Lundin Gold Stock Up 3.0 %

Shares of TSE LUG opened at C$33.84 on Friday. The firm’s 50-day moving average is C$32.00 and its two-hundred day moving average is C$28.64. The company has a market capitalization of C$8.12 billion, a PE ratio of 26.23 and a beta of 1.23. Lundin Gold has a 12-month low of C$14.23 and a 12-month 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.

Lundin Gold (TSE:LUG) last released its quarterly earnings data on Thursday, November 7th. The company reported C$0.76 EPS for the quarter, topping 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 business had revenue of C$440.77 million for the quarter.

Insiders Place Their Bets

In other Lundin Gold news, Director Pablo Mir sold 11,535 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total transaction of C$355,001.16. 58.72% of the stock is currently owned by insiders.

Lundin Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 20th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.36%. The ex-dividend date was Thursday, December 5th. Lundin Gold’s dividend payout ratio (DPR) is 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.