Lundin Gold Inc. (TSE:LUG) to Post Q1 2024 Earnings of $0.30 Per Share, Cormark Forecasts

Lundin Gold Inc. (TSE:LUG) – Cormark issued their Q1 2024 earnings per share (EPS) estimates for Lundin Gold in a note issued to investors on Monday, April 22nd. Cormark analyst N. Dion forecasts that the company will post earnings per share of $0.30 for the quarter. The consensus estimate for Lundin Gold’s current full-year earnings is $1.36 per share.

Several other equities research analysts have also recently issued reports on LUG. Jefferies Financial Group lifted their target price on Lundin Gold from C$19.00 to C$23.00 and gave the stock a “buy” rating in a report on Monday. Raymond James lifted their target price on Lundin Gold from C$17.50 to C$21.00 in a report on Tuesday. Scotiabank lifted their target price on Lundin Gold from C$20.00 to C$21.00 and gave the stock a “sector perform” rating in a report on Thursday, March 28th. Veritas Investment Research lifted their price target on Lundin Gold from C$20.90 to C$28.00 in a research report on Friday, April 12th. Finally, Canaccord Genuity Group lifted their price target on Lundin Gold from C$22.75 to C$23.25 in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$22.25.

Lundin Gold Trading Down 0.7 %

Shares of LUG stock opened at C$18.87 on Tuesday. Lundin Gold has a 12-month low of C$14.23 and a 12-month high of C$20.36. The company has a current ratio of 2.86, a quick ratio of 1.41 and a debt-to-equity ratio of 31.98. The stock’s 50-day moving average price is C$17.70 and its 200-day moving average price is C$16.66. The stock has a market capitalization of C$4.49 billion, a price-to-earnings ratio of 18.57 and a beta of 1.10.

Lundin Gold (TSE:LUG) last issued its 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). Lundin Gold had a return on equity of 19.85% and a net margin of 19.88%. The firm had revenue of C$259.63 million during the quarter.

Insider Buying and Selling at Lundin Gold

In other Lundin Gold news, Director Ronald F. Hochstein sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of C$16.73, for a total transaction of C$1,673,330.00. Company insiders own 59.46% of the company’s stock.

Lundin Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a $0.269 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.08 annualized dividend and a yield of 5.70%. Lundin Gold’s dividend payout ratio is currently 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.