Lundin Gold Inc. Expected to Post FY2024 Earnings of $1.96 Per Share (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Equities research analysts at Cormark raised their FY2024 EPS estimates for shares of Lundin Gold in a research note issued to investors on Monday, August 12th. Cormark analyst N. Dion now expects that the company will post earnings of $1.96 per share for the year, up from their previous estimate of $1.95. The consensus estimate for Lundin Gold’s current full-year earnings is $2.00 per share. Cormark also issued estimates for Lundin Gold’s FY2025 earnings at $2.19 EPS.

Other analysts have also issued research reports about the company. TD Securities lifted their price objective on Lundin Gold from C$24.00 to C$27.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Desjardins raised shares of Lundin Gold to a “moderate buy” rating in a report on Friday, May 10th. CIBC raised their price objective on shares of Lundin Gold from C$22.00 to C$25.00 in a report on Wednesday, July 10th. Canaccord Genuity Group lifted their target price on shares of Lundin Gold from C$25.00 to C$27.50 in a research report on Tuesday, July 23rd. Finally, National Bankshares increased their price target on shares of Lundin Gold from C$30.75 to C$32.00 and gave the stock an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$25.73.

Lundin Gold Stock Down 0.7 %

LUG stock opened at C$25.01 on Wednesday. The business’s 50-day simple moving average is C$21.68 and its 200 day simple moving average is C$19.35. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 33.65. The company has a market cap of C$5.99 billion, a PE ratio of 19.39 and a beta of 1.14. Lundin Gold has a twelve month low of C$14.23 and a twelve month high of C$25.39.

Lundin Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be paid a $0.551 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This is a positive change from Lundin Gold’s previous quarterly dividend of $0.10. This represents a $2.20 dividend on an annualized basis and a dividend yield of 8.81%. Lundin Gold’s dividend payout ratio (DPR) is 85.27%.

Insiders Place Their Bets

In other Lundin Gold news, Senior Officer Chester See sold 30,100 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$20.27, for a total value of C$610,253.42. Insiders own 58.83% 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.