What is Cormark’s Forecast for Lundin Gold FY2024 Earnings?

Lundin Gold Inc. (TSE:LUG) – Stock analysts at Cormark decreased their FY2024 earnings per share (EPS) estimates for shares of Lundin Gold in a note issued to investors on Thursday, February 20th. Cormark analyst N. Dion now forecasts that the company will post earnings per share of $2.47 for the year, down from their prior forecast of $2.51. Cormark has a “Hold” rating on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share.

Other analysts have also recently issued reports about the company. Scotiabank increased their price target on Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. Desjardins increased their price target on Lundin Gold from C$38.00 to C$42.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. 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. CIBC increased their price target on Lundin Gold from C$34.00 to C$41.00 in a research report on Monday, December 2nd. Finally, BMO Capital Markets cut Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lundin Gold currently has a consensus rating of “Moderate Buy” and an average target price of C$34.45.

Lundin Gold Trading Down 1.1 %

Shares of Lundin Gold stock opened at C$40.76 on Monday. The business’s 50 day simple moving average is C$34.92 and its 200-day simple moving average is C$32.10. The stock has a market capitalization of C$6.96 billion, a price-to-earnings ratio of 22.88 and a beta of 1.23. Lundin Gold has a twelve month low of C$15.24 and a twelve month high of C$41.49.

Insider Activity at Lundin Gold

In other news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total transaction of C$355,001.16. 58.72% of the stock is owned by insiders.

Lundin Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 20th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.96%. The ex-dividend date was Thursday, December 5th. Lundin Gold’s dividend payout ratio is currently 60.06%.

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.