FY2024 EPS Estimates for Lundin Gold Lowered by Scotiabank

Lundin Gold Inc. (TSE:LUG) – Scotiabank decreased their FY2024 EPS estimates for shares of Lundin Gold in a report issued on Wednesday, January 8th. Scotiabank analyst O. Habib now expects that the company will post earnings of $1.67 per share for the year, down from their prior estimate of $1.85. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share. Scotiabank also issued estimates for Lundin Gold’s FY2025 earnings at $1.74 EPS and FY2026 earnings at $2.01 EPS.

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

A number of other research firms also recently issued reports on LUG. CIBC increased their price objective on Lundin Gold from C$34.00 to C$41.00 in a report on Monday, December 2nd. Cormark increased their price target on shares of Lundin Gold from C$27.00 to C$32.00 and gave the stock a “hold” rating in a research note on Thursday, October 10th. Canaccord Genuity Group lowered shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group downgraded shares of Lundin Gold from a “buy” rating to a “hold” rating and decreased their target price for the company from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. Finally, TD Securities boosted their price target on Lundin Gold from C$27.00 to C$38.00 in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$32.55.

Lundin Gold Trading Up 5.9 %

LUG opened at C$32.87 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. Lundin Gold has a 52 week low of C$14.23 and a 52 week high of C$35.89. The stock has a market cap of C$7.89 billion, a PE ratio of 25.48 and a beta of 1.23. The business has a 50 day moving average of C$32.02 and a 200-day moving average of C$28.61.

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 paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.80 annualized dividend and a yield of 2.43%. Lundin Gold’s dividend payout ratio is 82.95%.

Insiders Place Their Bets

In other news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of C$30.78, for a total value of C$355,001.16. Corporate insiders own 58.72% 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.