Lundin Gold Inc. (TSE:LUG) Expected to Post Q2 2024 Earnings of $0.38 Per Share

Lundin Gold Inc. (TSE:LUG - Free Report) - Research analysts at Raymond James boosted their Q2 2024 earnings per share estimates for shares of Lundin Gold in a report released on Tuesday, April 23rd. Raymond James analyst C. Stanley now anticipates that the company will post earnings of $0.38 per share for the quarter, up from their previous forecast of $0.34. The consensus estimate for Lundin Gold's current full-year earnings is $1.36 per share.

LUG has been the topic of several other reports. Canaccord Genuity Group boosted their target price on Lundin Gold from C$22.75 to C$23.25 in a report on Tuesday. Cormark upped their price objective on Lundin Gold from C$22.00 to C$23.00 in a report on Friday, April 19th. National Bankshares upped their price objective on Lundin Gold from C$24.50 to C$24.75 in a report on Friday, April 19th. Scotiabank upped their price objective on Lundin Gold from C$20.00 to C$21.00 and gave the company a "sector perform" rating in a report on Thursday, March 28th. Finally, Jefferies Financial Group upped their price objective on Lundin Gold from C$19.00 to C$23.00 and gave the company a "buy" rating in a report on Monday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$22.25.

Lundin Gold Price Performance

Shares of Lundin Gold stock traded up C$0.48 on Thursday, hitting C$19.35. 316,340 shares of the company were exchanged, compared to its average volume of 270,656. The stock has a market capitalization of C$4.61 billion, a price-to-earnings ratio of 19.04 and a beta of 1.10. The company has a 50-day moving average price of C$17.78 and a 200 day moving average price of C$16.67. Lundin Gold has a 1-year low of C$14.23 and a 1-year high of C$20.36. The company has a quick ratio of 1.41, a current ratio of 2.86 and a debt-to-equity ratio of 31.98.

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

Insiders Place Their Bets

In other Lundin Gold 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 insiders.

Lundin Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a dividend of $0.269 per share. This represents a $1.08 dividend on an annualized basis and a yield of 5.56%. The ex-dividend date was Thursday, March 7th. Lundin Gold's dividend payout ratio (DPR) is 52.94%.

Lundin Gold Company Profile

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.