Canada's Lundin Gold Q2 revenue rises, expects stronger H2 output

Overview

• Canada gold miner's Q2 revenue rose to $478 mln, adjusted EPS reached $0.84

• Company returned $293 mln to shareholders via dividends and distributed $747 mln in LunR shares

• Lundin Gold expects stronger production in H2 as mining moves into higher grade areas

Outlook

• Lundin Gold maintains 2026 production guidance of 475,000-525,000 oz and AISC of $1,110-$1,170/oz sold

• Company expects stronger H2 2026 production as mining advances into higher grade areas

• Sustaining capital expenditures to rise in H2 2026 with tailings dam raise and new quarry development

Result Drivers

• LOWER GOLD SALES - Co said lower gold sales resulted from production being weighted toward the latter part of the quarter

• HIGHER SUSTAINING CAPITAL - Co said increased sustaining capital expenditures contributed to higher all-in sustaining costs

• NEGATIVE GOLD PRICE IMPACT - Co said average realized gold price was negatively impacted by declining gold prices on provisionally priced sales

Company press release: ID:nCNWtD4JBa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 11 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the gold peer group is "buy."

• Wall Street's median 12-month price target for Lundin Gold Inc. is C$95.00, about 9.6% above its August 6 closing price of C$86.70

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago

Reuters Recommended Reads

• Aug 6 - Canada's McEwen Q2 revenue rises on higher gold prices

• Aug 6 - Canada's B2Gold Q2 revenue and adjusted EPS miss estimates, narrows 2026 gold production guidance

• Aug 5 - Canada's Equinox Gold Q2 revenue slightly misses estimates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)