Q2 2024 EPS Estimates for Lundin Gold Inc. Raised by Raymond James (TSE:LUG)

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

LUG has been the subject of several other research reports. Jefferies Financial Group increased their target price on Lundin Gold from C$19.00 to C$23.00 and gave the stock a “buy” rating in a research report on Monday. Cormark raised their price target on Lundin Gold from C$22.00 to C$23.00 in a report on Friday, April 19th. Veritas Investment Research raised their price target on Lundin Gold from C$20.90 to C$28.00 in a report on Friday, April 12th. National Bankshares raised their price target on Lundin Gold from C$24.50 to C$24.75 in a report on Friday, April 19th. Finally, Scotiabank raised their price target 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. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Lundin Gold has a consensus rating of “Moderate Buy” and an average price target of C$22.25.

Lundin Gold Price Performance

TSE LUG opened at C$19.35 on Thursday. The company has a quick ratio of 1.41, a current ratio of 2.86 and a debt-to-equity ratio of 31.98. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$20.36. The company has a 50-day moving average price of C$17.78 and a 200-day moving average price of C$16.67. The firm has a market capitalization of C$4.61 billion, a P/E ratio of 19.04 and a beta of 1.10.

Lundin Gold (TSE:LUG) last released its quarterly earnings results on Thursday, February 22nd. The company reported C$0.19 earnings per share 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.

Lundin Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a $0.269 dividend. This represents a $1.08 annualized dividend and a dividend yield of 5.56%. The ex-dividend date was Thursday, March 7th. Lundin Gold’s payout ratio is 52.94%.

Insider Activity

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 stock was 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 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.