What is Cormark’s Estimate for Lundin Gold Q3 Earnings?

Lundin Gold Inc. (TSE:LUG) – Equities research analysts at Cormark issued their Q3 2024 EPS estimates for Lundin Gold in a report released on Wednesday, October 23rd. Cormark analyst N. Dion expects that the company will post earnings of $0.68 per share for the quarter. 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.

Several other brokerages have also recently weighed in on LUG. Jefferies Financial Group upped their target price on Lundin Gold from C$35.00 to C$37.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. TD Securities lifted their price objective on shares of Lundin Gold from C$27.00 to C$38.00 in a report on Friday, October 18th. Canaccord Genuity Group lowered Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada lifted their price target on Lundin Gold from C$25.00 to C$27.00 in a report on Tuesday, September 10th. Finally, Raymond James cut Lundin Gold from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from C$25.00 to C$29.00 in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$29.42.

Lundin Gold Stock Up 0.2 %

Shares of TSE LUG opened at C$34.67 on Friday. Lundin Gold has a 52-week low of C$14.23 and a 52-week high of C$35.89. The firm has a market capitalization of C$8.32 billion, a price-to-earnings ratio of 26.88 and a beta of 1.23. The stock has a 50 day moving average price of C$29.49 and a 200 day moving average price of C$23.74. 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 (TSE:LUG) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.55 EPS for the quarter, missing the consensus estimate of C$0.62 by C($0.07). The business had revenue of C$412.43 million during the quarter. Lundin Gold had a net margin of 24.30% and a return on equity of 22.88%.

Insider Transactions at Lundin Gold

In related news, Senior Officer Terrence Smith sold 25,740 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$29.52, for a total value of C$759,826.78. In other Lundin Gold news, Senior Officer Terrence Smith sold 25,740 shares of Lundin Gold stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of C$29.52, for a total transaction of C$759,826.78. Also, Senior Officer Sheila Margaret Colman sold 16,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$28.74, for a total transaction of C$459,913.60. Over the last ninety days, insiders sold 72,840 shares of company stock worth $2,146,122. Company insiders own 58.72% of the company’s stock.

Lundin Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were issued a $0.551 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.36%. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10. Lundin Gold’s dividend payout ratio (DPR) 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.