Research Analysts Set Expectations for Lundin Gold Inc.’s Q2 2024 Earnings (TSE:LUG)

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

Several other equities analysts have also recently issued reports on LUG. Canaccord Genuity Group lifted their price target on Lundin Gold from C$22.75 to C$23.25 in a research report on Tuesday. Jefferies Financial Group lifted their price target on Lundin Gold from C$19.00 to C$23.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Scotiabank lifted their price target on Lundin Gold from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a research report on Thursday, March 28th. National Bankshares raised their price objective on Lundin Gold from C$24.50 to C$24.75 in a research note on Friday, April 19th. Finally, Veritas Investment Research raised their price objective on Lundin Gold from C$20.90 to C$28.00 in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Lundin Gold currently has a consensus rating of “Moderate Buy” and an average price target of C$22.25.

Lundin Gold Stock Up 0.2 %

Shares of LUG stock opened at C$19.39 on Thursday. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$20.36. The stock has a market cap of C$4.62 billion, a PE ratio of 19.01 and a beta of 1.10. The business’s fifty day moving average is C$17.86 and its 200-day moving average is C$16.69. The company has a debt-to-equity ratio of 31.98, a quick ratio of 1.41 and a current ratio of 2.86.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results 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 firm had revenue of C$259.63 million for the quarter.

Insider Transactions at Lundin Gold

In other 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. 59.46% of the stock is currently owned by insiders.

Lundin Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a $0.269 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 5.55%. Lundin Gold’s dividend payout ratio (DPR) is presently 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.