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

Lundin Gold Inc. (TSE:LUG) – Desjardins issued their Q1 2024 EPS estimates for Lundin Gold in a research report issued on Tuesday, April 23rd. Desjardins analyst J. Egilo anticipates that the company will earn $0.30 per share for the quarter. The consensus estimate for Lundin Gold’s current full-year earnings is $1.36 per share.

Lundin Gold (TSE:LUG) last posted 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 net margin of 19.88% and a return on equity of 19.85%. The company had revenue of C$259.63 million for the quarter.

Several other research firms also recently issued reports on LUG. Raymond James upped their price objective on shares of Lundin Gold from C$17.50 to C$21.00 in a report on Tuesday. National Bankshares upped their price objective on shares of Lundin Gold from C$24.50 to C$24.75 in a report on Friday, April 19th. Cormark increased their price target on shares of Lundin Gold from C$22.00 to C$23.00 in a report on Friday, April 19th. Scotiabank increased their price target on shares of Lundin Gold from C$20.00 to C$21.00 and gave the stock a “sector perform” rating in a report on Thursday, March 28th. Finally, Jefferies Financial Group increased their price target on shares of Lundin Gold from C$19.00 to C$23.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$22.25.

Lundin Gold Stock Performance

LUG opened at C$19.39 on Thursday. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$20.36. The company has a quick ratio of 1.41, a current ratio of 2.86 and a debt-to-equity ratio of 31.98. The company has a market cap of C$4.62 billion, a P/E ratio of 19.01 and a beta of 1.10. The firm’s 50-day moving average price is C$17.86 and its 200-day moving average price is C$16.69.

Insider Transactions at Lundin Gold

In other news, Director Ronald F. Hochstein sold 100,000 shares of the firm’s stock in a transaction that occurred 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. Corporate insiders own 59.46% of the company’s stock.

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a dividend of $0.269 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.55%. Lundin Gold’s payout ratio is 52.94%.

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.