Lundin Gold Inc. Anticipated to Report FY2024 Earnings of $2.08 Per Share (TSE:LUG)
Oct 13, 2024
Raymond James Upgrades Earnings Forecast for Lundin Gold
Lundin Gold Inc. (TSE:LUG - Free Report) has received an upgrade in its earnings forecast for the fiscal year 2024. Investment analysts at Raymond James revised their estimates on October 28th, indicating that they now expect Lundin Gold to report earnings of $2.10 per share, slightly above their previous estimate of $2.09. Additionally, Raymond James maintains a "Market Perform" rating on the stock and has set a price target of $29.00 for its shares.
Earnings Estimates and Performance
The consensus estimate for Lundin Gold's earnings for the current fiscal year stands at $2.56 per share. Analysts at Raymond James have also projected that the company will earn $0.62 per share in the first quarter of fiscal year 2025, with an annual estimate of $2.50 per share for that year.
In its most recent earnings release on August 8th, Lundin Gold reported earnings of C$0.55 per share for the quarter, which fell short of market expectations, missing the consensus estimate of C$0.62 by C$0.07. The company generated revenue of C$412.43 million during the same period, reflecting strong operational performance with a return on equity of 22.88% and a net margin of 24.30%.
Recent Analyst Insights
Lundin Gold Stock Performance
Lundin Gold's stock opened at C$34.28 recently. The company commands a market capitalization of C$8.23 billion and has a price-to-earnings (PE) ratio of 26.57, along with a beta of 1.23, indicating moderate volatility compared to the broader market. It also has a quick ratio of 1.41 and a current ratio of 1.98, illustrating solid liquidity. The company's debt-to-equity ratio stands at 14.28. The stock's 50-day moving average is reported at C$29.82, while its two-hundred-day moving average is C$23.99. Lundin Gold has experienced a 52-week low of C$14.23 and a high of C$35.89.
Dividend Increases
Moreover, Lundin Gold recently declared a quarterly dividend paid on September 25th. Each share received a dividend of $0.551, marking a significant increase from the previous quarterly dividend of $0.10. This translates to an annualized dividend of $2.20 and a dividend yield of 6.43%. The company currently maintains a dividend payout ratio of 82.95%.
Insider Transactions
In insider trading news, Senior Officer Terrence Smith sold 25,740 shares on September 20th at an average price of C$29.52, totaling C$759,826.78. Similarly, Director Ronald F. Hochstein sold 16,200 shares on September 17th at C$29.50, accumulating C$477,891.90. Over the last quarter, insiders have sold a total of 72,840 shares worth approximately $2.15 million. Notably, company insiders still retain 58.72% ownership of Lundin Gold.
About Lundin Gold
Lundin Gold Inc. is a Canadian mining company holding interests in 28 metallic mineral concessions along with three construction material concessions covering around 64,454 hectares in Southeast Ecuador. Its principal asset is the Fruta del Norte gold project, which encompasses seven concessions over approximately 5,566 hectares situated near Loja, Ecuador.
Lundin, Gold, Earnings, Analysts, Investments