Canada's Lundin Gold Q1 revenue hits record peak on higher bullion prices

Overview

• The Canadian gold miner's Q1 revenue rose to record levels, driven by higher realized gold prices

• Q1 net income and free cash flow reached all-time highs

• Company paid $1.15 per share dividend and plans LunR Royalties share distribution, pending deal closure

Outlook

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

• Company expects gold production and sales to be back-end weighted in 2026

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

Result Drivers

• GOLD PRICE GAINS - Record realized gold prices drove revenue and earnings growth, per company

• OPERATIONAL CONSISTENCY - Steady mine and mill performance at Fruta del Norte supported results, per co

• HIGHER COSTS - Increased royalties and statutory profit sharing raised cash operating and all-in sustaining costs, driven by higher gold prices

Company press release: ID:nCNWK4qhha

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 12 "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$116.25, about 22.8% above its May 6 closing price of C$94.67

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 19 three months ago

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