Cormark Research Analysts Increase Earnings Estimates for Lundin Gold Inc. (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Equities research analysts at Cormark upped their FY2024 earnings estimates for shares of Lundin Gold in a research note issued on Friday, August 9th. Cormark analyst N. Dion now expects that the company will earn $1.95 per share for the year, up from their prior estimate of $1.80. The consensus estimate for Lundin Gold’s current full-year earnings is $2.00 per share.

A number of other analysts have also commented on LUG. National Bank Financial raised Lundin Gold from a “hold” rating to a “strong-buy” rating in a research note on Sunday, July 7th. Canaccord Genuity Group raised their price objective on Lundin Gold from C$25.00 to C$27.50 in a report on Tuesday, July 23rd. TD Securities lifted their price target on Lundin Gold from C$24.00 to C$27.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. National Bankshares raised shares of Lundin Gold from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$25.25 to C$27.75 in a research report on Monday, July 8th. Finally, CIBC upped their price target on shares of Lundin Gold from C$22.00 to C$25.00 in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$24.81.

Lundin Gold Price Performance

LUG stock opened at C$24.87 on Monday. The company has a debt-to-equity ratio of 33.65, a quick ratio of 1.41 and a current ratio of 1.98. The stock’s 50 day moving average price is C$21.57 and its 200 day moving average price is C$19.31. The firm has a market cap of C$5.96 billion, a P/E ratio of 19.28 and a beta of 1.14. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$25.08.

Insider Activity at Lundin Gold

In other Lundin Gold news, Senior Officer Chester See sold 30,100 shares of Lundin Gold stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of C$20.27, for a total transaction of C$610,253.42. 58.83% of the stock is currently owned by company insiders.

Lundin Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Tuesday, June 25th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, June 10th. Lundin Gold’s dividend payout ratio (DPR) is 85.27%.

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.