Q2 2024 EPS Estimates for Lundin Gold Inc. (TSE:LUG) Lifted by Raymond James

Lundin Gold Inc. (TSE:LUG) – Raymond James raised their Q2 2024 earnings per share (EPS) estimates for shares of Lundin Gold in a note issued to investors on Tuesday, April 23rd. Raymond James analyst C. Stanley now expects that the company will post earnings per share of $0.38 for the quarter, up from their prior forecast of $0.34. The consensus estimate for Lundin Gold’s current full-year earnings is $1.36 per share.

Lundin Gold (TSE:LUG) last announced its earnings results on Thursday, February 22nd. The company reported C$0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.21 by C($0.02). Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%. The business had revenue of C$259.63 million for the quarter.

Several other research analysts also recently commented on the company. Cormark increased their price objective on Lundin Gold from C$22.00 to C$23.00 in a research note on Friday, April 19th. Jefferies Financial Group increased their price objective on Lundin Gold from C$19.00 to C$23.00 and gave the company a “buy” rating in a research note on Monday. Canaccord Genuity Group increased their price objective on Lundin Gold from C$22.75 to C$23.25 in a research note on Tuesday. Veritas Investment Research increased their price objective on Lundin Gold from C$20.90 to C$28.00 in a research note on Friday, April 12th. Finally, National Bankshares increased their price objective on Lundin Gold from C$24.50 to C$24.75 in a research note on Friday, April 19th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$22.25.

Lundin Gold Trading Down 0.7 %

Shares of TSE:LUG opened at C$18.87 on Thursday. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$20.36. The firm has a market capitalization of C$4.49 billion, a price-to-earnings ratio of 18.50 and a beta of 1.10. The company has a debt-to-equity ratio of 31.98, a current ratio of 2.86 and a quick ratio of 1.41. The business’s 50 day moving average price is C$17.70 and its 200-day moving average price is C$16.66.

Lundin Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a $0.269 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date of this dividend was Thursday, March 7th. Lundin Gold’s dividend payout ratio (DPR) is presently 52.94%.

Insiders Place Their Bets

In other Lundin Gold news, Director Ronald F. Hochstein sold 100,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of C$16.73, for a total value of C$1,673,330.00. Corporate insiders own 59.46% 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.