Brokers Issue Forecasts for Lundin Gold FY2024 Earnings

Lundin Gold Inc. (TSE:LUG) – Raymond James raised their FY2024 earnings estimates for shares of Lundin Gold in a research note issued on Monday, January 6th. Raymond James analyst C. Stanley now expects that the company will post earnings of $2.36 per share for the year, up from their previous forecast of $2.10. Raymond James currently has a “Market Perform” rating and a $29.00 target price on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share. Raymond James also issued estimates for Lundin Gold’s Q4 2024 earnings at $0.60 EPS, Q2 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.72 EPS and FY2025 earnings at $2.57 EPS.

LUG has been the topic of several other research reports. Scotiabank dropped their target price on shares of Lundin Gold from C$31.50 to C$30.00 in a research report on Tuesday, December 10th. Jefferies Financial Group cut Lundin Gold from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Canaccord Genuity Group lowered Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada lifted their price objective on Lundin Gold from C$27.00 to C$31.00 in a research report on Friday, December 6th. Finally, TD Securities upped their target price on Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Lundin Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of C$32.55.

Lundin Gold Stock Performance

Shares of LUG stock opened at C$30.64 on Wednesday. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28. The company has a market capitalization of C$7.35 billion, a P/E ratio of 23.75 and a beta of 1.23. The business’s 50 day moving average is C$32.08 and its two-hundred day moving average is C$28.53. Lundin Gold has a 12-month low of C$14.23 and a 12-month high of C$35.89.

Lundin Gold (TSE:LUG) last posted its earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.60 by C$0.16. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%. The business had revenue of C$440.77 million for the quarter.

Lundin Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 20th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.61%. Lundin Gold’s dividend payout ratio (DPR) is presently 82.95%.

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.