Canada's Lundin Gold Q3 revenue rises on record gold production, higher prices
Overview
Canada gold miner's Q3 revenue rose to record $633 mln on strong gold production
Adjusted EPS for Q3 was $1.23, reflecting higher gold sales and strong grades
Company returned $264 mln to shareholders via dividends and share repurchases in Q3
Outlook
Lundin Gold maintains 2026 gold production guidance of 475,000-525,000 oz
Company expects 2026 all-in sustaining cost of $1,110-$1,170 per oz sold
Fourth-quarter production expected to be lowest of the year due to lower grades and maintenance
Result Drivers
RECORD GOLD PRODUCTION - Co said Q3 gold output reached 153,736 oz, driven by strong mill throughput and higher grades at Fruta del Norte
HIGHER REALIZED GOLD PRICE - Average realized gold price rose to $4,299/oz, boosted by provisionally priced sales settling above prior estimates
COST DISCIPLINE - Cash operating costs and all-in sustaining costs remained stable as record gold sales, strong grades, and continued cost discipline offset higher royalties and profit sharing from higher gold prices
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | $633 mln | ||
Q3 Adjusted EPS | $1.23 | ||
Q3 Adjusted EBITDA | $480.03 mln | ||
Q3 Net Income | $293.80 mln | ||
Q3 Free Cash Flow | $330.86 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 8 "hold" and 1 "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$99.00, about 8.5% above its November 4 closing price of C$91.28
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 12 three months ago
Reuters Recommended Reads
Nov 4 - Canada's Allied Gold Q3 gold output rises 5%
Nov 4 - Canada's B2Gold lowers annual all-in sustaining cost guidance after strong gold production in Q3
Nov 4 - Canada's Aris Mining YTD gold production rises 16%
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(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.)