FY2024 EPS Estimates for Lundin Gold Cut by Scotiabank

Lundin Gold Inc. (TSE:LUG) – Research analysts at Scotiabank decreased their FY2024 earnings per share (EPS) estimates for shares of Lundin Gold in a note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Habib now anticipates that the company will post earnings of $1.67 per share for the year, down from their prior forecast 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 announced its earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share (EPS) for the quarter, beating the consensus estimate 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.

Several other analysts have also issued reports on LUG. Jefferies Financial Group lowered Lundin Gold from a “buy” rating to a “hold” rating and cut their price target for the company from C$37.00 to C$36.00 in a report on Wednesday, December 11th. BMO Capital Markets downgraded Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Royal Bank of Canada raised their target price on shares of Lundin Gold from C$27.00 to C$31.00 in a research note on Friday, December 6th. Cormark upped 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 report on Thursday, October 10th. Finally, Raymond James downgraded shares of Lundin Gold from an “outperform” rating to a “market perform” rating and raised their price objective for the company from C$25.00 to C$29.00 in a research report on Monday, September 23rd. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$32.55.

Lundin Gold Trading Up 5.9 %

Shares of LUG stock opened at C$32.87 on Friday. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The company has a market cap of C$7.89 billion, a price-to-earnings ratio of 25.48 and a beta of 1.23. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$35.89. The firm has a fifty day moving average price of C$32.02 and a 200-day moving average price of C$28.61.

Insiders Place Their Bets

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

Lundin Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 20th were issued a $0.20 dividend. The ex-dividend date of this dividend 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 currently 82.95%.

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.