Brokers Issue Forecasts for Lundin Gold Inc.’s FY2023 Earnings (TSE:LUG)

Lundin Gold Inc. (TSE:LUGGet Rating) – Analysts at National Bank Financial lifted their FY2023 earnings per share (EPS) estimates for Lundin Gold in a note issued to investors on Tuesday, April 19th. National Bank Financial analyst D. Demarco now expects that the company will earn $0.87 per share for the year, up from their prior forecast of $0.75.

Several other equities research analysts also recently weighed in on the company. TD Securities decreased their target price on Lundin Gold from C$15.50 to C$13.50 in a research report on Wednesday, January 26th. Cormark decreased their target price on Lundin Gold from C$14.00 to C$13.00 and set a “neutral” rating for the company in a research report on Wednesday, January 12th. National Bankshares increased their price target on Lundin Gold from C$12.25 to C$13.50 in a report on Wednesday. Scotiabank increased their price target on Lundin Gold from C$12.00 to C$13.00 in a report on Tuesday. Finally, BMO Capital Markets reissued a “buy” rating and issued a C$14.00 price target on shares of Lundin Gold in a report on Tuesday, January 11th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$13.36.

Shares of TSE LUG opened at C$10.78 on Thursday. Lundin Gold has a 1-year low of C$8.82 and a 1-year high of C$12.93. The business has a 50-day moving average of C$10.65 and a 200-day moving average of C$10.33. The company has a debt-to-equity ratio of 90.85, a current ratio of 1.70 and a quick ratio of 1.32. The company has a market capitalization of C$2.53 billion and a price-to-earnings ratio of 9.13.

Lundin Gold (TSE:LUGGet Rating) last released its earnings results on Wednesday, February 23rd. The company reported C$0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.25 by C$0.17. The business had revenue of C$235.05 million during the quarter.

In other news, Senior Officer Sheila Margaret Colman sold 16,250 shares of the stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of C$10.05, for a total transaction of C$163,312.50. Following the sale, the insider now directly owns 28,645 shares in the company, valued at approximately C$287,882.25. Also, Senior Officer Alessandro Bitelli sold 95,000 shares of the stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of C$9.92, for a total value of C$942,134.00. Following the sale, the insider now owns 175,000 shares in the company, valued at C$1,735,510. Insiders have sold 214,750 shares of company stock worth $2,258,701 in the last 90 days.

About Lundin Gold (Get Rating)

Lundin Gold Inc operates as a mining company in Canada. The company holds interests in 27 metallic mineral concessions and three construction material concessions covering an area of approximately 64,270 hectares located in Southeast Ecuador. It primary holds interests in the Fruta del Norte gold project comprising seven concessions covering an area of approximately 5,566 hectares located near the city of Loja in Ecuador.

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Earnings History and Estimates for Lundin Gold (TSE:LUG)

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