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

Lundin Gold Inc. (TSE:LUG) – Cormark cut their FY2024 earnings per share estimates for Lundin Gold in a report issued on Thursday, February 20th. Cormark analyst N. Dion now forecasts that the company will post earnings of $2.47 per share for the year, down from their prior forecast of $2.51. Cormark currently has a “Hold” rating on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share.

A number of other analysts also recently commented on LUG. Desjardins boosted their target price on Lundin Gold from C$38.00 to C$42.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group lowered Lundin Gold from a “buy” rating to a “hold” rating and dropped their target price for the company from C$37.00 to C$36.00 in a research note on Wednesday, December 11th. BMO Capital Markets lowered Lundin Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Royal Bank of Canada upped their target price on Lundin Gold from C$31.00 to C$35.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Finally, Scotiabank upped their target price on Lundin Gold from C$30.00 to C$31.50 in a research note on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$34.45.

Lundin Gold Stock Performance

LUG opened at C$40.76 on Monday. The business’s fifty day moving average is C$34.92 and its two-hundred day moving average is C$32.10. The company has a market cap of C$6.96 billion, a price-to-earnings ratio of 22.88 and a beta of 1.23. Lundin Gold has a one year low of C$15.24 and a one year high of C$41.49.

Insider Activity

In other news, Director Pablo Mir sold 11,535 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total value of C$355,001.16. Insiders own 58.72% of the company’s stock.

Lundin Gold Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders 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 dividend yield of 1.96%. Lundin Gold’s dividend payout ratio (DPR) is currently 60.06%.

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.