Lundin Gold Inc. (TSE:LUG) Forecasted to Post Q1 2024 Earnings of $0.30 Per Share

Lundin Gold Inc. (TSE:LUG) – Cormark issued their Q1 2024 earnings estimates for Lundin Gold in a research report issued on Monday, April 22nd. Cormark analyst N. Dion anticipates that the company will post earnings of $0.30 per share for the quarter. The consensus estimate for Lundin Gold’s current full-year earnings is $1.36 per share.

Several other research analysts also recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Lundin Gold from C$19.00 to C$23.00 and gave the company a “buy” rating in a research note on Monday. National Bankshares upped their target price on shares of Lundin Gold from C$24.50 to C$24.75 in a research note on Friday. Scotiabank upped their target price on shares of Lundin Gold from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a research note on Thursday, March 28th. Raymond James set a C$17.50 target price on shares of Lundin Gold and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Veritas Investment Research upped their price target on shares of Lundin Gold from C$20.90 to C$28.00 in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Lundin Gold presently has a consensus rating of “Moderate Buy” and an average target price of C$21.84.

Lundin Gold Price Performance

Shares of LUG stock opened at C$18.91 on Tuesday. The company has a market capitalization of C$4.50 billion, a PE ratio of 18.54 and a beta of 1.10. The firm has a fifty day simple moving average of C$17.54 and a 200-day simple moving average of C$16.60. The company has a current ratio of 2.86, a quick ratio of 1.41 and a debt-to-equity ratio of 31.98. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$20.36.

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

Insiders Place Their Bets

In other Lundin Gold news, Director Ronald F. Hochstein sold 100,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$16.73, for a total transaction of C$1,673,330.00. 59.46% of the stock is owned by corporate insiders.

Lundin Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a dividend of $0.269 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.69%. Lundin Gold’s dividend payout ratio (DPR) is 52.94%.

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.