FY2024 EPS Estimates for Lundin Gold Increased by Desjardins

Lundin Gold Inc. (TSE:LUG) – Stock analysts at Desjardins lifted their FY2024 earnings per share estimates for shares of Lundin Gold in a research report issued to clients and investors on Wednesday, January 8th. Desjardins analyst A. Carson now forecasts that the company will post earnings per share of $2.67 for the year, up from their previous estimate of $2.36. Desjardins currently has a “Moderate Buy” rating on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share. Desjardins also issued estimates for Lundin Gold’s FY2026 earnings at $3.05 EPS and FY2027 earnings at $2.63 EPS.

Other research analysts have also recently issued reports about the company. Canaccord Genuity Group cut Lundin Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada upped their price target on Lundin Gold from C$27.00 to C$31.00 in a report on Friday, December 6th. Jefferies Financial Group cut shares of Lundin Gold from a “buy” rating to a “hold” rating and cut their price objective for the stock from C$37.00 to C$36.00 in a report on Wednesday, December 11th. TD Securities upped their target price on shares of Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Finally, Raymond James lowered shares of Lundin Gold from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from C$25.00 to C$29.00 in a research note on Monday, September 23rd. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lundin Gold currently has an average rating of “Moderate Buy” and a consensus price target of C$32.55.

Lundin Gold Stock Performance

Shares of LUG stock opened at C$32.87 on Friday. The company has a market cap of C$7.89 billion, a P/E ratio of 25.48 and a beta of 1.23. The firm has a fifty day moving average price of C$32.02 and a 200 day moving average price of C$28.61. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 14.28. 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 issued its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of C$440.77 million during the quarter.

Lundin Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 20th were paid a $0.20 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.43%. Lundin Gold’s dividend payout ratio is presently 82.95%.

Insider Buying and Selling at Lundin Gold

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

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.