Q1 2024 Earnings Estimate for Lundin Gold Inc. Issued By Raymond James (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Raymond James reduced their Q1 2024 earnings estimates for shares of Lundin Gold in a note issued to investors on Tuesday, April 23rd. Raymond James analyst C. Stanley now forecasts that the company will earn $0.29 per share for the quarter, down from their prior forecast of $0.34. The consensus estimate for Lundin Gold’s current full-year earnings is $1.36 per share. Raymond James also issued estimates for Lundin Gold’s Q3 2024 earnings at $0.51 EPS, Q4 2024 earnings at $0.52 EPS and FY2024 earnings at $1.70 EPS.

Several other research analysts also recently weighed in on LUG. Veritas Investment Research upped their price objective on shares of Lundin Gold from C$20.90 to C$28.00 in a report on Friday, April 12th. 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 note on Thursday, March 28th. Jefferies Financial Group increased their price objective on Lundin Gold from C$19.00 to C$23.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. National Bankshares raised their price target on shares of Lundin Gold from C$24.50 to C$24.75 in a research report on Friday, April 19th. Finally, Canaccord Genuity Group increased their price objective on shares of Lundin Gold from C$22.75 to C$23.25 in a research note on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$22.25.

Lundin Gold Price Performance

Shares of LUG opened at C$19.39 on Friday. The business’s fifty day moving average is C$17.93 and its 200 day moving average is C$16.72. Lundin Gold has a 12-month low of C$14.23 and a 12-month high of C$20.36. The company has a quick ratio of 1.41, a current ratio of 2.86 and a debt-to-equity ratio of 31.98. The stock has a market cap of C$4.62 billion, a P/E ratio of 19.01 and a beta of 1.10.

Lundin Gold (TSE:LUG) last announced 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). 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%.

Insiders Place Their Bets

In related news, Director Ronald F. Hochstein sold 100,000 shares of the business’s 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. Company insiders own 59.46% of the company’s stock.

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a dividend of $0.269 per share. This represents a $1.08 annualized dividend and a yield of 5.55%. The ex-dividend date of this dividend was Thursday, March 7th. Lundin Gold’s dividend payout ratio (DPR) is 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.