What is Cormark’s Estimate for Lundin Gold FY2024 Earnings?

Lundin Gold Inc. (TSE:LUG) – Cormark increased their FY2024 earnings estimates for shares of Lundin Gold in a note issued to investors on Monday, November 11th. Cormark analyst N. Dion now anticipates that the company will post earnings per share of $2.34 for the year, up from their previous estimate of $2.18. Cormark has a “Hold” rating and a $32.00 price objective on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share. Cormark also issued estimates for Lundin Gold’s FY2025 earnings at $2.49 EPS.

Other analysts have also recently issued research reports about the stock. Raymond James cut shares of Lundin Gold from an “outperform” rating to a “market perform” rating and increased their price target for the company from C$25.00 to C$29.00 in a research note on Monday, September 23rd. Jefferies Financial Group increased their price objective on Lundin Gold from C$35.00 to C$37.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Canaccord Genuity Group cut Lundin Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. TD Securities increased their price objective on shares of Lundin Gold from C$27.00 to C$38.00 in a research note on Friday, October 18th. Finally, CIBC lifted their price target on Lundin Gold from C$28.00 to C$34.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lundin Gold presently has a consensus rating of “Moderate Buy” and an average target price of C$29.42.

Lundin Gold Stock Performance

LUG opened at C$30.47 on Wednesday. The firm has a market capitalization of C$7.31 billion, a PE ratio of 23.62 and a beta of 1.23. The company has a debt-to-equity ratio of 14.28, a quick ratio of 1.41 and a current ratio of 1.98. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$35.89. The business’s 50-day simple moving average is C$30.97 and its 200 day simple moving average is C$25.03.

Lundin Gold (TSE:LUG) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$0.76 earnings per share for the quarter, topping 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.

Insider Activity at Lundin Gold

In other Lundin Gold news, Senior Officer Sheila Margaret Colman sold 16,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total transaction of C$459,913.60. In other Lundin Gold news, Director Ronald F. Hochstein sold 16,200 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of C$29.50, for a total value of C$477,891.90. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$28.74, for a total value of C$459,913.60. Insiders have sold 72,840 shares of company stock worth $2,146,122 over the last ninety days. Insiders own 58.72% of the company’s stock.

Lundin Gold Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Thursday, December 5th. Lundin Gold’s payout ratio is presently 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.