Desjardins Brokers Lift Earnings Estimates for Lundin Gold

Key Points

• Desjardins has raised its FY2025 earnings per share estimate for Lundin Gold from $3.56 to $3.84 while maintaining a "Hold" rating and a target price of $70.00 per share.
• Lundin Gold's stock recently experienced a 6.5% gain, trading at C$78.91, with a current market cap of C$13.47 billion and a PE ratio of 44.29.
• The company has also declared a quarterly dividend of $0.2075, resulting in an annualized dividend yield of 1.1%, and insiders have sold shares totaling over $4 million in the last quarter.

Lundin Gold Inc. (TSE:LUG - Free Report) - Equities researchers at Desjardins boosted their FY2025 earnings estimates for shares of Lundin Gold in a note issued to investors on Thursday, August 7th. Desjardins analyst A. Carson now expects that the company will post earnings per share of $3.84 for the year, up from their previous forecast of $3.56. Desjardins has a "Hold" rating and a $70.00 price target on the stock. The consensus estimate for Lundin Gold's current full-year earnings is $2.56 per share.

LUG has been the topic of several other reports. Royal Bank Of Canada raised their target price on shares of Lundin Gold from C$50.00 to C$54.00 in a report on Wednesday, June 4th. CIBC lifted their price objective on shares of Lundin Gold from C$44.00 to C$46.00 in a report on Thursday, April 17th. TD Securities downgraded shares of Lundin Gold from a "strong-buy" rating to a "hold" rating and lifted their price objective for the company from C$65.00 to C$73.00 in a report on Wednesday, July 16th. National Bank Financial downgraded shares of Lundin Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, June 23rd. Finally, BMO Capital Markets boosted their target price on shares of Lundin Gold from C$45.00 to C$62.00 in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of C$54.18.

Lundin Gold Stock Performance

LUG stock traded down C$0.91 during mid-day trading on Monday, hitting C$78.78. 372,444 shares of the company were exchanged, compared to its average volume of 682,088. The firm has a market cap of C$13.45 billion, a P/E ratio of 44.22 and a beta of 1.23. The firm's 50 day simple moving average is C$69.83 and its 200 day simple moving average is C$55.81. Lundin Gold has a 1-year low of C$24.70 and a 1-year high of C$83.78.

Insiders Place Their Bets

In other Lundin Gold news, Director Pablo Mir sold 15,000 shares of Lundin Gold stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of C$66.44, for a total transaction of C$996,550.50. Also, Senior Officer Sheila Margaret Colman sold 1,400 shares of Lundin Gold stock in a transaction on Monday, June 23rd. The stock was sold at an average price of C$75.05, for a total transaction of C$105,070.00. Insiders sold a total of 57,056 shares of company stock valued at $3,706,044 over the last ninety days. 58.72% of the stock is currently owned by company insiders.

Lundin Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 25th were given a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 10th. Lundin Gold's payout ratio is 60.06%.

About Lundin Gold

Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within a 150 km long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador.