Lundin Gold: Q4 Earnings and FY2024 EPS Estimates Raised
Earnings Announcement and Analyst Upgrades
Lundin Gold (TSX: LUG) recently announced its quarterly earnings results, which prompted analysts to upgrade their estimates for the company's FY2024 earnings per share (EPS).
Q4 Financial Performance
In Q4, Lundin Gold reported a net income of $67.4 million, driven by strong production and a favorable gold price. The company's revenue increased by 12% year-over-year to $226.4 million.
Lundin Gold's operating expenses also rose by 11% to $132.4 million, primarily due to higher costs of materials and labor.
Revised Analyst Estimates
- Cormark Securities: Raised FY2024 EPS estimate from $0.65 to $0.68.
- National Bank Financial: Increased FY2024 EPS estimate from $0.67 to $0.70.
These upgrades reflect analysts' confidence in Lundin Gold's strong operational performance and future growth prospects.
Dividend Increase Announced
In addition to the earnings and analyst upgrades, Lundin Gold also announced a 10% increase in its quarterly dividend to $0.20 per share. This decision demonstrates the company's commitment to returning value to shareholders.
Conclusion
Lundin Gold's strong Q4 performance and positive analyst sentiment underscore the company's solid financial position and bright outlook. The revised EPS estimates and dividend increase further reinforce the company's commitment to growth and shareholder returns.
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