Q3 EPS Estimates for Lundin Gold Increased by Analyst

Lundin Gold Inc. (TSE:LUG) – Equities research analysts at National Bank Financial raised their Q3 2024 EPS estimates for Lundin Gold in a research note issued on Tuesday, October 22nd. National Bank Financial analyst D. Demarco now anticipates that the company will post earnings of $0.70 per share for the quarter, up from their previous forecast of $0.64. National Bank Financial has a “Strong-Buy” rating on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share.

Several other research firms have also recently issued reports on LUG. Canaccord Genuity Group cut Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Cormark increased their price objective on shares of Lundin Gold from C$27.00 to C$32.00 and gave the company a “hold” rating in a report on Thursday, October 10th. Raymond James cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating and raised their target price for the company from C$25.00 to C$29.00 in a research note on Monday, September 23rd. TD Securities boosted their price target on shares of Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Finally, CIBC raised their price objective on Lundin Gold from C$28.00 to C$34.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$29.42.

Lundin Gold Price Performance

TSE:LUG opened at C$34.60 on Thursday. The business’s 50-day simple moving average is C$29.30 and its two-hundred day simple moving average is C$23.67. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$35.89. The stock has a market cap of C$8.30 billion, a PE ratio of 26.82 and a beta of 1.23. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28.

Lundin Gold (TSE:LUG) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.55 EPS for the quarter, missing the consensus estimate of C$0.62 by C($0.07). The firm had revenue of C$412.43 million for the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%.

Insider Activity at Lundin Gold

In related news, Senior Officer Chester See sold 14,900 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. In other Lundin Gold news, Senior Officer Chester See sold 14,900 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. Also, Senior Officer Terrence Smith sold 25,740 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$29.52, for a total value of C$759,826.78. Over the last quarter, insiders sold 72,840 shares of company stock worth $2,146,122. Company insiders own 58.72% of the company’s stock.

Lundin Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th were paid a dividend of $0.551 per share. This represents a $2.20 annualized dividend and a dividend yield of 6.37%. The ex-dividend date was Tuesday, September 10th. This is an increase from Lundin Gold’s previous quarterly dividend of $0.10. Lundin Gold’s payout ratio is currently 82.95%.

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.