Raymond James Comments on Lundin Gold Inc.’s Q3 2024 Earnings (TSE:LUG)

Lundin Gold Inc. (TSE:LUG) – Equities researchers at Raymond James upped their Q3 2024 EPS estimates for Lundin Gold in a research note issued on Monday, September 23rd. Raymond James analyst C. Stanley now forecasts that the company will earn $0.57 per share for the quarter, up from their previous estimate of $0.53. Raymond James currently has a “Market Perform” rating and a $29.00 target price on the stock. The consensus estimate for Lundin Gold’s current full-year earnings is $2.56 per share. Raymond James also issued estimates for Lundin Gold’s Q4 2024 earnings at $0.64 EPS and FY2024 earnings at $2.09 EPS.

Several other brokerages also recently weighed in on LUG. National Bankshares lifted their price target on shares of Lundin Gold from C$30.75 to C$32.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Canaccord Genuity Group lifted their target price on shares of Lundin Gold from C$27.50 to C$28.50 in a research note on Tuesday, August 20th. Scotiabank increased their price target on Lundin Gold from C$23.50 to C$25.50 in a research note on Monday, August 19th. Cormark boosted their price objective on Lundin Gold from C$26.00 to C$27.00 in a research report on Friday, August 9th. Finally, TD Securities increased their target price on Lundin Gold from C$24.00 to C$27.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$27.42.

Lundin Gold Trading Up 1.0 %

Shares of LUG stock opened at C$29.71 on Wednesday. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.98 and a quick ratio of 1.41. The company has a market cap of C$7.13 billion, a price-to-earnings ratio of 23.21 and a beta of 1.23. Lundin Gold has a 1 year low of C$14.23 and a 1 year high of C$30.64. The firm has a fifty day moving average price of C$25.96 and a 200-day moving average price of C$21.81.

Lundin Gold (TSE:LUG) last released its quarterly earnings results on Thursday, August 8th. The company reported C$0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.07). The firm had revenue of C$412.43 million during the quarter. Lundin Gold had a return on equity of 22.88% and a net margin of 24.30%.

Insider Buying and Selling

In other Lundin Gold news, Senior Officer Chester See sold 14,900 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of C$30.10, for a total transaction of C$448,490.00. In other news, Senior Officer Chester See sold 14,900 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$30.10, for a total value of C$448,490.00. Also, Director Ronald F. Hochstein sold 16,200 shares of Lundin Gold stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of C$29.50, for a total value of C$477,891.90. Over the last 90 days, insiders have sold 72,840 shares of company stock worth $2,146,122. Insiders own 58.75% of the company’s stock.

Lundin Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were given a $0.551 dividend. This represents a $2.20 annualized dividend and a yield of 7.42%. The ex-dividend date was Tuesday, September 10th. This is a boost from Lundin Gold’s previous quarterly dividend of $0.10. Lundin Gold’s payout ratio is currently 85.16%.

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.