Scotiabank Issues Positive Forecast for Lundin Gold Earnings

Lundin Gold Inc. (TSE:LUG - Free Report) - Equities researchers at Scotiabank boosted their FY2025 EPS estimates for shares of Lundin Gold in a research note issued to investors on Tuesday, July 15th. Scotiabank analyst O. Habib now forecasts that the company will post earnings of $3.43 per share for the year, up from their prior forecast of $3.27. The consensus estimate for Lundin Gold's current full-year earnings is $2.56 per share. Scotiabank also issued estimates for Lundin Gold's FY2025 earnings at $3.43 EPS.

Several other analysts also recently commented on the stock. BMO Capital Markets increased their price objective on shares of Lundin Gold from C$45.00 to C$62.00 in a research report on Friday, May 9th. CIBC increased their price objective on shares of Lundin Gold from C$44.00 to C$46.00 in a research note on Thursday, April 17th. National Bankshares cut shares of Lundin Gold from an "outperform" rating to a "sector perform" rating and raised their target price for the stock from C$67.75 to C$89.00 in a research note on Tuesday, June 24th. Royal Bank Of Canada increased their price objective on shares of Lundin Gold from C$50.00 to C$54.00 in a report on Wednesday, June 4th. Finally, Jefferies Financial Group increased their price objective on shares of Lundin Gold from C$36.00 to C$45.00 in a report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Lundin Gold has a consensus rating of "Hold" and an average price target of C$51.64.

Lundin Gold Stock Performance

TSE:LUG traded up C$0.71 during midday trading on Friday, reaching C$64.89. 19,433 shares of the stock traded hands, compared to its average volume of 668,241. The company has a fifty day moving average of C$67.59 and a 200 day moving average of C$51.31. Lundin Gold has a 12 month low of C$21.51 and a 12 month high of C$75.19. The stock has a market capitalization of C$11.08 billion, a P/E ratio of 36.42 and a beta of 1.23.

Insider Buying and Selling at Lundin Gold

In related news, Senior Officer Terrence Smith sold 40,656 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of C$64.06, for a total value of C$2,604,423.36. Also, Director Pablo Mir sold 15,000 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of C$66.44, for a total transaction of C$996,550.50. Over the last ninety days, insiders have sold 65,056 shares of company stock valued at $4,166,044. 58.72% of the stock is currently owned by corporate 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 issued a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a yield of 1.28%. 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.

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