FY2024 EPS Estimate for Lundin Gold Reduced by Analyst

Lundin Gold Inc. (TSE:LUG) – Investment analysts at National Bank Financial decreased their FY2024 earnings per share estimates for shares of Lundin Gold in a report released on Monday, February 10th. National Bank Financial analyst D. Demarco now forecasts that the company will post earnings of $2.47 per share for the year, down from their previous estimate of $2.54. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share. National Bank Financial also issued estimates for Lundin Gold’s Q4 2024 earnings at $0.73 EPS and FY2025 earnings at $3.60 EPS.

A number of other equities analysts have also issued reports on the stock. BMO Capital Markets lowered shares of Lundin Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. Scotiabank upped their price objective on shares of Lundin Gold from C$30.00 to C$31.50 in a research report on Wednesday, January 15th. Canaccord Genuity Group cut shares of Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Desjardins upgraded Lundin Gold to a “moderate buy” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group downgraded Lundin Gold from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$37.00 to C$36.00 in a research report on Wednesday, December 11th. Six research 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 presently has an average rating of “Moderate Buy” and an average target price of C$33.70.

Lundin Gold Stock Performance

Shares of TSE LUG opened at C$38.36 on Thursday. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$41.28. The company has a market cap of C$9.21 billion, a P/E ratio of 29.74 and a beta of 1.23. The business’s 50 day moving average is C$33.92 and its two-hundred day moving average is C$31.10. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28.

Insider Buying and Selling at Lundin Gold

In other news, Director Pablo Mir sold 11,535 shares of the firm’s 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 transaction of C$355,001.16. Company insiders own 58.72% of the company’s stock.

Lundin Gold Cuts Dividend

The business also recently disclosed 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 2.09%. Lundin Gold’s dividend payout ratio is currently 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.