Lundin Gold Inc. Forecasted to Earn Q1 2024 Earnings of $0.30 Per Share (TSE:LUG)

Lundin Gold Inc. (TSE:LUG - Free Report) - Equities researchers at Cormark issued their Q1 2024 earnings per share estimates for shares of Lundin Gold in a research note issued on Monday, April 22nd. Cormark analyst N. Dion expects that the company will earn $0.30 per share for the quarter. The consensus estimate for Lundin Gold's current full-year earnings is $1.36 per share.

Lundin Gold (TSE:LUG - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported C$0.19 EPS for the quarter, missing analysts' consensus estimates of C$0.21 by C($0.02). Lundin Gold had a net margin of 19.88% and a return on equity of 19.85%. The firm had revenue of C$259.63 million during the quarter.

LUG has been the topic of a number of other reports. National Bankshares upped their price objective on Lundin Gold from C$24.50 to C$24.75 in a report on Friday. Scotiabank increased their target price on Lundin Gold from C$20.00 to C$21.00 and gave the stock a "sector perform" rating in a report on Thursday, March 28th. Raymond James increased their target price on Lundin Gold from C$17.50 to C$21.00 in a report on Tuesday. Canaccord Genuity Group increased their target price on Lundin Gold from C$22.75 to C$23.25 in a report on Tuesday. Finally, Veritas Investment Research increased their target price on Lundin Gold from C$20.90 to C$28.00 in a report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$22.25.

Lundin Gold Stock Performance

TSE LUG traded up C$0.09 on Tuesday, reaching C$19.00. The stock had a trading volume of 209,302 shares, compared to its average volume of 271,649. The company has a debt-to-equity ratio of 31.98, a current ratio of 2.86 and a quick ratio of 1.41. The firm has a fifty day moving average of C$17.61 and a two-hundred day moving average of C$16.63. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$20.36. The company has a market cap of C$4.52 billion, a P/E ratio of 18.57 and a beta of 1.10.

Lundin Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a dividend of $0.269 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.08 annualized dividend and a dividend yield of 5.66%. Lundin Gold's dividend payout ratio is currently 52.94%.

Insider Buying and Selling

In related news, Director Ronald F. Hochstein sold 100,000 shares of the company's stock in a transaction on Monday, March 4th. The stock was sold at an average price of C$16.73, for a total transaction of C$1,673,330.00. 59.46% of the stock is owned by corporate insiders.

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.