Cormark Weighs in on Lundin Gold Inc.’s Q1 2024 Earnings (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Equities research analysts at Cormark issued their Q1 2024 EPS estimates for Lundin Gold in a research report issued on Monday, April 22nd. Cormark analyst N. Dion expects that the company will post earnings per share of $0.30 for the quarter. The consensus estimate for Lundin Gold’s current full-year earnings is $1.36 per share.

A number of other brokerages have also recently issued reports on LUG. Veritas Investment Research lifted their target price on shares of Lundin Gold from C$20.90 to C$28.00 in a research report on Friday, April 12th. Raymond James lifted their target price on shares of Lundin Gold from C$17.50 to C$21.00 in a research report on Tuesday. Canaccord Genuity Group boosted their price objective on shares of Lundin Gold from C$22.75 to C$23.25 in a research report on Tuesday. National Bankshares boosted their price objective on shares of Lundin Gold from C$24.50 to C$24.75 in a research report on Friday, April 19th. Finally, Scotiabank boosted their price objective on shares of Lundin Gold from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a research report on Thursday, March 28th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$22.25.

Lundin Gold Stock Performance

Shares of LUG opened at C$19.00 on Tuesday. The company has a current ratio of 2.86, a quick ratio of 1.41 and a debt-to-equity ratio of 31.98. The stock has a market cap of C$4.52 billion, a P/E ratio of 18.57 and a beta of 1.10. The company has a 50-day moving average of C$17.61 and a two-hundred day moving average of C$16.63. Lundin Gold has a 12-month low of C$14.23 and a 12-month high of C$20.36.

Lundin Gold (TSE:LUG) last announced its earnings results on Thursday, February 22nd. The company reported C$0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.21 by C($0.02). The business had revenue of C$259.63 million for the quarter. Lundin Gold had a return on equity of 19.85% and a net margin of 19.88%.

Lundin Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a $0.269 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.08 dividend on an annualized basis and a yield of 5.66%. Lundin Gold’s payout ratio is 52.94%.

Insider Activity at Lundin Gold

In related news, Director Ronald F. Hochstein sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of C$16.73, for a total value of C$1,673,330.00. 59.46% of the stock is owned by 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.