Lundin Gold Inc. (LUG.ST), the Canada-based gold mining company, reported a solid increase in net income for the second quarter of 2026.
Net income for the quarter climbed to $219.87 million, or $0.91 per share, compared to $196.73 million, or $0.81 per share, in the same period a year earlier.
Excluding one-time items, the company posted adjusted earnings of $201.94 million, or $0.84 per share, reflecting continued operational strength.
Revenue grew 5.5% to $477.69 million for the quarter, up from $452.88 million in the prior-year period.
Income from mining operations also moved higher, rising to $336.69 million from $314.16 million recorded in the same quarter last year.
EBITDA showed a notable jump, reaching $398.88 million compared to $318.84 million in the year-ago period.
Lundin Gold produced 118,994 ounces of gold during the second quarter and sold 110,385 ounces at an average realized gold price of $4,359 per ounce.
The strong realized gold price played a meaningful role in driving the company’s revenue and earnings growth during the period.
The company declared a cash dividend of $1.08 per share, payable to shareholders in the third quarter of 2026.
Lundin Gold also stated it expects to maintain its dividend policy of a minimum quarterly dividend of $0.30 per share, with a variable component tied to at least 50% of normalized free cash flow after the fixed payout.
The company confirmed it remains on track to meet its 2026 production guidance of 475,000 to 525,000 ounces of gold for the full year.
Lundin Gold also reaffirmed its all-in sustaining cost guidance of $1,110 to $1,170 per ounce sold, signaling confidence in its cost management through the remainder of the year.
The full-year guidance reaffirmation will likely reassure investors who track the company’s operational consistency and capital discipline closely.
Shares of Lundin Gold gained 0.23% in Toronto trading before closing at C$86.70 on Thursday, reflecting measured market optimism around the latest results.
