Raymond James Weighs in on Lundin Gold Inc.’s Q3 2024 Earnings (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Equities researchers at Raymond James increased their Q3 2024 earnings estimates for shares of Lundin Gold in a research report issued on Tuesday, July 30th. Raymond James analyst C. Stanley now forecasts that the company will post earnings of $0.53 per share for the quarter, up from their previous estimate of $0.51. The consensus estimate for Lundin Gold’s current full-year earnings is $1.70 per share. Raymond James also issued estimates for Lundin Gold’s Q4 2024 earnings at $0.56 EPS and FY2024 earnings at $1.96 EPS.

Lundin Gold (TSE:LUG) last released its quarterly earnings results on Wednesday, May 8th. The company reported C$0.32 EPS for the quarter, missing analysts’ consensus estimates of C$0.33 by C($0.01). The firm had revenue of C$305.68 million during the quarter. Lundin Gold had a net margin of 19.47% and a return on equity of 18.30%.

A number of other research analysts have also commented on LUG. Jefferies Financial Group upped their price objective on shares of Lundin Gold from C$24.00 to C$26.00 in a research report on Friday, July 12th. Desjardins upgraded Lundin Gold to a “moderate buy” rating in a research note on Friday, May 10th. Scotiabank lifted their price target on shares of Lundin Gold from C$21.00 to C$23.50 in a research note on Thursday, May 23rd. CIBC upped their price objective on Lundin Gold from C$22.00 to C$25.00 in a research note on Wednesday, July 10th. Finally, National Bank Financial upgraded Lundin Gold from a “hold” rating to a “strong-buy” rating in a research note on Sunday, July 7th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$24.65.

Lundin Gold Trading Up 1.0 %

Shares of Lundin Gold stock opened at C$23.97 on Thursday. The company has a current ratio of 3.08, a quick ratio of 1.41 and a debt-to-equity ratio of 33.65. The company has a market cap of C$5.73 billion, a price-to-earnings ratio of 24.77 and a beta of 1.14. The company’s fifty day simple moving average is C$21.06 and its 200-day simple moving average is C$18.79. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$24.66.

Lundin Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 25th were issued a dividend of $0.10 per share. The ex-dividend date was Monday, June 10th. This represents a $0.40 annualized dividend and a yield of 1.67%. Lundin Gold’s dividend payout ratio is currently 57.29%.

Insider Buying and Selling at Lundin Gold

In other news, Senior Officer Chester See sold 30,100 shares of Lundin Gold stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of C$20.27, for a total transaction of C$610,253.42. In other Lundin Gold news, Senior Officer Chester See sold 30,100 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of C$20.27, for a total transaction of C$610,253.42. Also, Director Ian Gibbs sold 30,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of C$19.90, for a total value of C$597,000.00. In the last three months, insiders have sold 110,100 shares of company stock worth $2,219,753. Company insiders own 58.99% of the company’s stock.

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.