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

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

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

LUG has been the subject of a number of other reports. Scotiabank lifted their price objective on Lundin Gold from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a report on Thursday, March 28th. Raymond James set a C$17.50 price objective on Lundin Gold and gave the company an “outperform” rating in a report on Thursday, January 25th. Jefferies Financial Group lifted their price objective on Lundin Gold from C$19.00 to C$23.00 and gave the company a “buy” rating in a report on Monday. Veritas Investment Research lifted their price objective on Lundin Gold from C$20.90 to C$28.00 in a report on Friday, April 12th. Finally, National Bankshares lifted their price target on Lundin Gold from C$24.50 to C$24.75 in a report on Friday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Lundin Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of C$21.84.

Lundin Gold Stock Down 6.3 %

Shares of LUG stock opened at C$18.91 on Tuesday. The stock has a market cap of C$4.50 billion, a P/E ratio of 18.54 and a beta of 1.10. The stock has a fifty day moving average price of C$17.54 and a 200 day moving average price of C$16.60. Lundin Gold has a one year low of C$14.23 and a one year high of C$20.36. The company has a debt-to-equity ratio of 31.98, a current ratio of 2.86 and a quick ratio of 1.41.

Lundin Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a $0.269 dividend. 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 5.69%. Lundin Gold’s dividend payout ratio is 52.94%.

Insider Activity at Lundin Gold

In related news, Director Ronald F. Hochstein sold 100,000 shares of Lundin Gold stock in a transaction dated 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 company insiders.

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.