Lundin Gold Inc. Anticipated Earnings for FY2024 at $2.08 Per Share (TSE:LUG)

As of October 10, 2024, analysts at Cormark have updated their earnings forecast for Lundin Gold Inc. (TSE:LUG). They now predict that the company will achieve earnings of $2.08 per share for the fiscal year 2024, an increase from their earlier estimate of $1.96. Cormark maintains a 'Hold' rating along with a price target of $32.00 for Lundin Gold's stock. In comparison, the consensus estimate for the company's full-year earnings stands at $2.56 per share.

Several other research analysts have also weighed in on Lundin Gold. Raymond James recently downgraded their rating from 'outperform' to 'market perform' while raising their price target from C$25.00 to C$29.00. CIBC has increased its price target from C$28.00 to C$34.00 and assigned an 'outperform' rating. Royal Bank of Canada has raised the target for the stock from C$25.00 to C$27.00, while TD Securities boosted their price target from C$24.00 to C$27.00, giving the stock a 'buy' rating. Lastly, National Bankshares has set a price objective of C$32.00, maintaining an 'outperform' rating. Overall, three analysts have given the stock a 'hold' rating, four analysts have assigned a 'buy' rating, and one has issued a 'strong buy' rating. According to MarketBeat, Lundin Gold has an average rating of 'Moderate Buy' with a consensus target price of C$28.33.

Lundin Gold Stock Performance

On Friday, shares of Lundin Gold (TSE:LUG) commenced trading at C$32.67. Over the past year, the stock has seen a low of C$14.23 and a high of C$33.34. The company boasts a market capitalization of C$7.84 billion, a price-to-earnings (P/E) ratio of 25.33, and a beta of 1.23. Furthermore, Lundin Gold displays a debt-to-equity ratio of 14.28 and a current ratio of 1.98, alongside a quick ratio of 1.41. The stock's fifty-day moving average is priced at C$27.60, while the 200-day moving average stands at C$22.80.

Lundin Gold last provided updates on its quarterly earnings on August 8th, where it reported earnings of C$0.55 per share. This figure fell short of the consensus estimate of C$0.62 by C$0.07. The company reported a return on equity of 22.88% and a net margin of 24.30%, with revenue for the quarter reported at C$412.43 million.

Insider Activity

In recent insider news, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold on September 12th at an average price of C$28.74, totaling approximately C$459,913.60. Additionally, Senior Officer Terrence Smith sold 25,740 shares on September 20th at an average price of C$29.52, amounting to around C$759,826.78. In total, insiders have sold 72,840 shares in the last quarter, equating to a value of C$2,146,122. Notably, corporate insiders hold 58.72% of the company's shares.

Dividend Increase

Lundin Gold has recently announced an increase in its quarterly dividend, which was paid on September 25th. Shareholders received a dividend of $0.551 per share, a significant rise from the previous quarterly dividend of $0.10. This amounts to an annualized dividend of $2.20, giving a yield of 6.75%. The ex-dividend date for this increase was September 10th, and the company's current dividend payout ratio stands at 82.95%.

Company Overview

Lundin Gold Inc. operates primarily in the mining sector within Canada. The company has vested interests in 28 metallic mineral concessions and three construction material concessions, spanning approximately 64,454 hectares in Southeast Ecuador. Notably, Lundin Gold fully owns the Fruta del Norte gold project, which includes seven concessions covering around 5,566 hectares near the city of Loja in Ecuador.

Lundin, Gold, Earnings