Lundin Gold Inc. (TSX:LUG) has received an upgraded earnings per share estimate for FY2023 from Desjardins analysts. The forecast now stands at $0.93 per share, up from the previous estimate of $0.37. The consensus estimate for Lundin Gold’s current full-year earnings is $0.99 per share, with Desjardins also issuing estimates for the company’s FY2024 earnings at $1.05 EPS.
Desjardins analysts have increased their FY2023 earnings per share estimates for Lundin Gold Inc. (TSX:LUG) from $0.37 to $0.93, with the consensus estimate for the full-year earnings currently at $0.99 per share. Desjardins has also projected Lundin Gold’s FY2024 earnings to be $1.05 EPS. Other research analysts have also issued reports about Lundin Gold, with a consensus rating of “Moderate Buy” and a consensus price target of CAD 16.07. The company’s stock opened at CAD 15.14 on Monday and has a 1-year low of CAD 7.80 and a 1-year high of CAD 16.00. Additionally, the company has recently announced a quarterly dividend of $0.133, which will be paid on March 31st, with an annualized dividend yield of 3.51%. Corporate insiders own 63.10% of the company’s stock.
The company had previously reported earnings per share of CAD 0.19 for Q4 2022, beating the consensus estimate of CAD 0.16 by CAD 0.03. Lundin Gold’s revenue for the quarter was CAD 286.42 million.
Several other research analysts have also issued research reports about Lundin Gold, with five firms rating the stock, resulting in a consensus rating of “Moderate Buy” and a consensus price target of CAD 16.07. The shares of (TSX:LUG) opened at CAD 15.14 on Monday, and the company has a market capitalization of CAD 3.57 billion, a PE ratio of 36.05, and a beta of 1.09. Insider selling of the company’s stock has taken place recently, with 247,000 shares sold by insiders in the last 90 days. Lundin Gold also recently declared a quarterly dividend, with investors of record on March 13th receiving a $0.133 dividend on March 31st. The ex-dividend date is March 10th, with the dividend representing a $0.53 annualized dividend yield and a payout ratio of 128.57%.
Lundin Gold Inc Stock Forecast
According to the latest stock forecasts by 14 market analysts, Lundin Gold Inc is projected to hit a target price of CAD 15.00 within the next 12 months, representing an average target price. The overall analyst ratings for the mining company is Strong Buy, indicating a positive outlook for the stock.
Stock Target Advisor’s comprehensive analysis of Lundin Gold Inc reveals a Slightly Bullish sentiment, driven by 9 positive signals and 5 negative signals. Despite a slight decline in the stock price at the last closing, which was at CAD 15.14, Lundin Gold Inc’s shares have surged by +13.32% in the past week, +3.77% in the past month, and +38.39% over the last year, showcasing a consistent upward trend in value.
Company Overview
Lundin Gold Inc. is a Vancouver-based mining company that operates in Canada and Southeast Ecuador. With a total of 30 concessions covering a massive 64,270 hectares, the company is primarily focused on the Fruta del Norte gold project, which spans 5,566 hectares near the city of Loja in Ecuador. Founded in 1986, the company was previously known as Fortress Minerals Corp. before being rebranded as Lundin Gold Inc. in December 2014.
