Desjardins Has Positive View of Lundin Gold FY2024 Earnings

Lundin Gold Inc. (TSE:LUG) – Investment analysts at Desjardins lifted their FY2024 earnings per share estimates for shares of Lundin Gold in a report issued on Wednesday, January 8th. Desjardins analyst A. Carson now forecasts that the company will post earnings of $2.67 per share for the year, up from their prior estimate of $2.36. Desjardins has a “Moderate Buy” rating on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share. Desjardins also issued estimates for Lundin Gold’s FY2026 earnings at $3.05 EPS and FY2027 earnings at $2.63 EPS.

Lundin Gold (TSE:LUG) last announced its quarterly earnings data on Thursday, November 7th. The company reported C$0.76 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.60 by C$0.16. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%. The firm had revenue of C$440.77 million for the quarter.

Other research analysts have also issued reports about the stock. Cormark upped their target price on shares of Lundin Gold from C$27.00 to C$32.00 and gave the stock a “hold” rating in a research report on Thursday, October 10th. BMO Capital Markets cut Lundin Gold from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 10th. Canaccord Genuity Group cut Lundin Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Jefferies Financial Group lowered Lundin Gold from a “buy” rating to a “hold” rating and lowered their target price for the company from C$37.00 to C$36.00 in a report on Wednesday, December 11th. Finally, CIBC boosted their price objective on shares of Lundin Gold from C$34.00 to C$41.00 in a research report on Monday, December 2nd. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lundin Gold currently has an average rating of “Moderate Buy” and a consensus price target of C$32.55.

Lundin Gold Stock Performance

TSE:LUG opened at C$32.87 on Friday. The firm’s fifty day simple moving average is C$32.02 and its 200-day simple moving average is C$28.61. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 14.28. The stock has a market cap of C$7.89 billion, a PE ratio of 25.48 and a beta of 1.23. Lundin Gold has a fifty-two week low of C$14.23 and a fifty-two week high of C$35.89.

Insider Activity

In other news, Director Pablo Mir sold 11,535 shares of Lundin Gold stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of C$30.78, for a total value of C$355,001.16. Company insiders own 58.72% of the company’s stock.

Lundin Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.43%. Lundin Gold’s dividend payout ratio (DPR) is presently 82.95%.

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.