Desjardins Issues Positive Forecast for Lundin Gold Earnings

Key Points

• Desjardins has upgraded its FY2025 earnings estimates for Lundin Gold to $4.06 per share, an increase from the previous estimate of $3.84.
• Lundin Gold recently announced a quarterly dividend of $0.675 per share, up from $0.21, marking an annualized dividend yield of 3.0%.
• Stock performance has seen fluctuations, with a market capitalization of C$22.04 billion and a recorded 52-week high of C$97.67.

Lundin Gold Inc. (TSE:LUG - Free Report) - Stock analysts at Desjardins boosted their FY2025 earnings estimates for shares of Lundin Gold in a report released on Wednesday, October 1st. Desjardins analyst A. Carson now forecasts that the company will post earnings of $4.06 per share for the year, up from their previous forecast of $3.84. Desjardins currently has a "Hold" rating and a $70.00 target price on the stock. The consensus estimate for Lundin Gold's current full-year earnings is $2.56 per share.

A number of other research firms have also recently issued reports on LUG. TD Securities cut Lundin Gold from a "strong-buy" rating to a "hold" rating and raised their price objective for the company from C$65.00 to C$73.00 in a research report on Wednesday, July 16th. National Bank Financial downgraded Lundin Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, June 23rd. Veritas cut shares of Lundin Gold from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, June 9th. Canaccord Genuity Group upped their price objective on shares of Lundin Gold from C$60.00 to C$78.00 in a report on Thursday. Finally, National Bankshares lowered shares of Lundin Gold from an "outperform" rating to a "sector perform" rating and increased their price objective for the company from C$67.75 to C$89.00 in a research report on Tuesday, June 24th. Eleven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of C$60.68.

Lundin Gold Stock Performance

Lundin Gold stock opened at C$91.31 on Friday. The stock has a 50-day simple moving average of C$81.86 and a 200 day simple moving average of C$67.66. The stock has a market capitalization of C$22.04 billion, a P/E ratio of 35.95 and a beta of 1.15. Lundin Gold has a 52 week low of C$29.41 and a 52 week high of C$97.67.

Lundin Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 25th were issued a dividend of $0.675 per share. This is an increase from Lundin Gold's previous quarterly dividend of $0.21. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, September 10th. Lundin Gold's payout ratio is 45.28%.

Insiders Place Their Bets

In other news, insider Sheila Margaret Colman sold 14,600 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of C$81.49, for a total value of C$1,189,754.00. Following the completion of the sale, the insider owned 37,068 shares of the company's stock, valued at approximately C$3,020,671.32. The trade was a 28.26% decrease in their ownership of the stock. Also, insider Chester See sold 20,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of C$83.30, for a total transaction of C$1,666,000.00. Following the completion of the transaction, the insider owned 132,571 shares in the company, valued at C$11,043,164.30. This trade represents a 13.11% decrease in their ownership of the stock. 58.72% of the stock is currently owned by company insiders.

Lundin Gold Company Profile

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.

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