Lundin Gold Inc. Anticipated to Report FY2024 Earnings of $2.08 Per Share (TSE:LUG)

On October 10, 2024, analysts from Cormark revised their projections for Lundin Gold Inc. (TSE:LUG) concerning its earnings for the fiscal year 2024. Cormark analyst N. Dion now expects the company to achieve earnings per share (EPS) of $2.08, a notable increase from the earlier estimate of $1.96. Despite the adjustments, Cormark maintains a "Hold" rating on the stock, with a target price set at $32.00. It’s essential to note that the consensus for Lundin Gold’s full-year earnings currently stands at $2.56 per share.

A variety of analysts have examined Lundin Gold's stock as well. For example, Raymond James shifted its rating from "outperform" to "market perform" while raising its price target to C$29.00 from C$25.00 on September 23. CIBC also increased its price objective for Lundin Gold from C$28.00 to C$34.00, assigning an "outperform" rating on September 11. Royal Bank of Canada revised their price target from C$25.00 to C$27.00 on September 10. Additionally, TD Securities updated their price target from C$24.00 to C$27.00 and rated the company as a "buy" on July 30. Furthermore, National Bankshares raised their price target from C$30.75 to C$32.00, also giving an "outperform" rating in mid-August. Currently, three analysts rate the stock as a hold, while four have designated it as a buy and one as a strong buy. MarketBeat reports that Lundin Gold holds an average rating of "Moderate Buy" and a target consensus price of C$28.33.

Lundin Gold Stock Performance

As of Friday, Lundin Gold shares began trading at C$32.67. Over the past year, the company’s stock has fluctuated between C$14.23 and C$33.34. Lundin Gold boasts a market capitalization of C$7.84 billion, with a price-to-earnings (P/E) ratio of 25.33 and a beta of 1.23. The company maintains a debt-to-equity ratio of 14.28 and current and quick ratios of 1.98 and 1.41, respectively. The stock's average price over the last fifty days stands at C$27.60, while the 200-day average is C$22.80.

Lundin Gold's most recent quarterly earnings report was released on August 8, where the company reported earnings of C$0.55 per share, which fell short of the expected C$0.62 by C($0.07). The company reported a return on equity of 22.88% and a net margin of 24.30% with quarterly revenues totaling C$412.43 million.

Insider Trading Activities

In noteworthy corporate activities, Senior Officer Sheila Margaret Colman sold 16,000 shares of Lundin Gold on September 12 at an average price of C$28.74, totaling approximately C$459,913.60. Following her, Senior Officer Terrence Smith disposed of 25,740 shares on September 20 at an average price of C$29.52, amounting to around C$759,826.78. These transactions reflect ongoing insider selling, with a total of 72,840 shares sold over the last quarter worth about $2.15 million. Corporate insiders currently own 58.72% of Lundin Gold’s stock.

Lundin Gold's Dividend Increase

Lundin Gold has recently declared an increase in its quarterly dividend, which was paid out on September 25, 2024. Shareholders on record received a dividend of $0.551, a significant increase from the previous $0.10 quarterly dividend. This increase brings the annualized dividend to $2.20, yielding 6.75%, with the ex-dividend date set for September 10. The dividend payout ratio for Lundin Gold stands at 82.95%.

About Lundin Gold Inc.

Lundin Gold Inc. specializes in mining operations within Canada, holding interests in 28 metallic mineral concessions and three construction material concessions that span approximately 64,454 hectares in Southeast Ecuador. The company’s primary asset is its 100% ownership of the Fruta del Norte gold project, which encompasses seven concessions over an area of around 5,566 hectares near Loja in Ecuador.

Lundin, Earnings, Stock