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

Lundin Gold Inc. (TSE:LUG) – Research analysts at Desjardins issued their Q1 2024 EPS estimates for Lundin Gold in a note issued to investors 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 released its quarterly earnings results on Thursday, February 22nd. The company reported C$0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of C$259.63 million during the quarter.

LUG has been the subject of a number of other reports. Raymond James increased their price target on shares of Lundin Gold from C$17.50 to C$21.00 in a research note on Tuesday. Cormark raised their target price on shares of Lundin Gold from C$22.00 to C$23.00 in a research note on Friday, April 19th. Veritas Investment Research raised their target price on shares of Lundin Gold from C$20.90 to C$28.00 in a research note on Friday, April 12th. National Bankshares raised their target price on shares of Lundin Gold from C$24.50 to C$24.75 in a research note on Friday, April 19th. Finally, Jefferies Financial Group raised 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. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Lundin Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of C$22.25.

Lundin Gold Price Performance

LUG stock opened at C$19.35 on Thursday. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$20.36. The company has a market cap of C$4.61 billion, a P/E ratio of 19.04 and a beta of 1.10. The firm has a 50-day moving average of C$17.78 and a 200 day moving average of C$16.67. The company has a debt-to-equity ratio of 31.98, a current ratio of 2.86 and a quick ratio of 1.41.

Insider Activity

In related 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 value of C$1,673,330.00. Corporate insiders own 59.46% of the company’s stock.

Lundin Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a dividend of $0.269 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date was Thursday, March 7th. 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.