Equities Analysts Set Expectations for Lundin Gold Inc.’s Q2 2024 Earnings (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Investment analysts at Desjardins issued their Q2 2024 earnings per share estimates for shares of Lundin Gold in a research report issued on Sunday, July 21st. Desjardins analyst J. Sclodnick forecasts that the company will post earnings of $0.58 per share for the quarter. Desjardins has a “Moderate Buy” rating on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $1.70 per share.

Lundin Gold (TSE:LUG) last posted its quarterly earnings results on Wednesday, May 8th. The company reported C$0.32 EPS for the quarter, missing analysts’ consensus estimates of C$0.33 by C($0.01). Lundin Gold had a return on equity of 18.30% and a net margin of 19.47%. The business had revenue of C$305.68 million during the quarter.

Several other analysts have also recently issued reports on the company. Cormark upped their price objective on Lundin Gold from C$23.00 to C$25.00 in a report on Wednesday, July 10th. National Bank Financial raised Lundin Gold from a “hold” rating to a “strong-buy” rating in a report on Sunday, July 7th. Raymond James upped their price objective on Lundin Gold from C$17.50 to C$21.00 in a report on Tuesday, April 23rd. CIBC boosted their target price on Lundin Gold from C$22.00 to C$25.00 in a research report on Wednesday, July 10th. Finally, Veritas Investment Research boosted their target price on Lundin Gold from C$20.90 to C$28.00 in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$24.07.

Lundin Gold Stock Down 1.7 %

TSE LUG opened at C$22.65 on Tuesday. The stock has a market cap of C$5.41 billion, a PE ratio of 23.95 and a beta of 1.14. Lundin Gold has a 12 month low of C$14.23 and a 12 month high of C$23.83. The stock’s 50 day moving average is C$20.66 and its 200 day moving average is C$18.47. The company has a current ratio of 3.08, a quick ratio of 1.41 and a debt-to-equity ratio of 33.65.

Lundin Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 25th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Monday, June 10th. Lundin Gold’s dividend payout ratio (DPR) is presently 57.29%.

Insider Buying and Selling at Lundin Gold

In other news, Director Ian Gibbs sold 30,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of C$19.90, for a total transaction of C$597,000.00. In other news, Senior Officer Chester See sold 50,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of C$20.25, for a total transaction of C$1,012,500.00. Also, Director Ian Gibbs sold 30,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of C$19.90, for a total value of C$597,000.00. Insiders have sold 110,100 shares of company stock valued at $2,219,753 in the last quarter. 58.99% of the stock is owned by 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.