LUG.TO - Lundin Gold Inc.

Toronto - Toronto Delayed Price. Currency in CAD
9.40
-0.39 (-3.93%)
As of 3:09PM EST. Market open.
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Previous Close9.79
Open9.97
Bid9.40 x 0
Ask9.41 x 0
Day's Range9.34 - 10.02
52 Week Range4.77 - 10.02
Volume431,048
Avg. Volume203,877
Market Cap2.103B
Beta (5Y Monthly)0.44
PE Ratio (TTM)N/A
EPS (TTM)-0.47
Earnings DateNov 07, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est7.80
  • Lundin Gold CEO Looking for Acquisitions, Open to a Takeover
    Bloomberg

    Lundin Gold CEO Looking for Acquisitions, Open to a Takeover

    (Bloomberg) -- With its first commercial production around the corner, Lundin Gold Inc. is looking at options to grow -- including acquisitions.The gold miner, whose only asset is expected to reach commercial production in the second quarter, is considering expansion at a time when bullion prices are hovering near a seven-year high. The rally has bolstered the case for acquisitions in an industry that has seen years of underinvestment, resulting in declining global production outlook.The company’s largest shareholder, Melbourne-based Newcrest Mining Ltd., is supportive of a potential acquisition, as is the Lundin family, also a major owner, Lundin Gold Chief Executive Officer Ron Hochstein said Thursday in an interview at Bloomberg’s Toronto office. “The challenge for us is going to be finding something that’s accretive for our shareholders.”The company has marked out a “concentric circle” of geographic targets in which a “bulls-eye” would be a pure-play gold asset in Latin America, outside Ecuador. Beyond that, the Vancouver-based miner would look at the rest of the Americas and then the world, excluding Russia, China and the “Stans.” Meanwhile, it will focus on organic growth through additional land holdings in Ecuador, he said.Funding an acquisition would likely not be difficult, he said, noting that the company works with seven banks and also has private equity investment through Orion Mine Finance. “Everyone seems very happy and I think if we were to do something, we’ve got the resources,” Hochstein said. “If it’s right and it’s accretive, we’ll spend what we have to spend to get it.”The company’s Fruta del Norte mine in Ecuador is expected to produce more than 300,000 ounces of gold this year, and average 325,000 ounces over its expected 14-year mine life.Asked about the potential that Lundin Gold could be a takeover target, given a wave of M&A in the sector, Hochstein said the company would welcome a buyer if the price was good.“That’s partly why a lot of investors invest with the Lundins; because they know if the value is right for the family, they sell,” he said. “There’s no sacred cows.”Newcrest would be the most logical buyer, he confirmed. “But the family’s going to have to be happy with the price. We can’t have the thing where Newcrest could just continue to creep and kind of own it, and the next thing you know we’re a subsidiary of Newcrest.”Newcrest said it doesn’t comment on M&A speculation but “we are very happy with our holding in Lundin Gold,” according to a company spokesperson.Newcrest recently increased its holdings in Lundin to 32%, while companies associated with the Lundin Family Trust also increased their stake.(Adds trend in gold prices and acquisitions in the second paragraph.)\--With assistance from Ranjeetha Pakiam and David Stringer.To contact the reporter on this story: Danielle Bochove in Toronto at dbochove1@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Reg GaleFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • CNW Group

    Lundin Gold's Fruta del Norte Produced 28,678 Ounces of Gold in 2019

    VANCOUVER , Jan. 9, 2020 /CNW/ - Lundin Gold Inc. ("Lundin Gold" or the "Company") (TSX: LUG, Nasdaq Stockholm: LUG) is pleased to report that ramp up to commercial production is on schedule and on budget at its Fruta del Norte gold project ("Fruta del Norte"). Of the total gold production, 3,411 oz were produced in the form of doré and 25,267 oz produced as concentrate.

  • CNW Group

    Lundin Gold Share Capital and Voting Rights Update

    VANCOUVER , Dec. 31, 2019 /CNW/ - Lundin Gold Inc. ("Lundin Gold" or the "Company") (TSX: LUG, Nasdaq Stockholm: LUG) reports the following in accordance with the Swedish Financial Instruments Trading Act. The Company has 223,631,212 common shares issued and outstanding with voting rights as at December 31 , 2019. This figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company under the Swedish Financial Instruments Trading Act on disclosure of major shareholdings (Transparency Rules).

  • CNW Group

    Lundin Gold Announces First Export of Gold Concentrate and Doré

    VANCOUVER , Dec. 13, 2019 /CNW/ - Lundin Gold Inc. ("Lundin Gold" or the "Company") (TSX: LUG, Nasdaq Stockholm: LUG) reports the first export of gold concentrate and doré bars from Ecuador. Shortly thereafter, on December 12 th, the Company also shipped its first doré bars to a refinery in Switzerland . Lundin Gold , headquartered in Vancouver, Canada , owns the Fruta del Norte gold project in southeast Ecuador.

  • Reuters

    Australia's Newcrest Mining raises stake in Canada's Lundin Gold

    Newcrest last year paid $250 million for a 27.1% stake in Lundin, which owns a high-potential gold mine project in Ecuador. Newcrest said it paid C$7.25 per share to acquire a further 4.9% stake in Lundin from Toronto-based Kinross Gold Corp.

  • CNW Group

    Lundin Gold Reports Increase in Positions by Major Shareholders

    Lundin Gold Reports Increase in Positions by Major Shareholders

  • Lundin Gold Wins Second United Nations Global Compact Award for its Sustainable Development Best Practices
    CNW Group

    Lundin Gold Wins Second United Nations Global Compact Award for its Sustainable Development Best Practices

    VANCOUVER , Nov. 19, 2019 /CNW/ - Lundin Gold Inc. ("Lundin Gold" or the "Company") (TSX: LUG, Nasdaq Stockholm: LUG) is pleased to announce that it has won an award from the United Nations Global Compact Canada ("Global Compact Canada") and was recognized at the United Nation Sustainable Development Goals ("SDGs") Leadership Awards held in Toronto on November 14 th. This award highlights the work the Company has undertaken jointly with the Lundin Foundation to implement educational and training strategies, together with our efforts to develop a network of local suppliers in the Zamora Chinchipe province in Ecuador , where the Fruta del Norte gold project ("Fruta del Norte") is located. "Being recognized for our efforts in education, training and local procurement by Global Compact Canada is an honour and emphasizes our belief that mining can be a catalyst for sustainable development," said Ron Hochstein , President and CEO of Lundin Gold .

  • Lundin Gold Announces the Inauguration of the Fruta del Norte Project and Production of First Gold
    CNW Group

    Lundin Gold Announces the Inauguration of the Fruta del Norte Project and Production of First Gold

    VANCOUVER , Nov. 18, 2019 /CNW/ - Lundin Gold Inc. ("Lundin Gold" or the "Company") (TSX: LUG, Nasdaq Stockholm: LUG) reports that on November 14 th, the inauguration ceremony of its Fruta del Norte gold project ("Fruta del Norte" or the "Project") was held in Ecuador. Ecuador's Vice President, Otto Sonnenholzner , Minister of Energy and Non-Renewable Natural Resources, Carlos Pérez and Vice Minister of Mining, Fernando Benalcázar, along with other top officials from national government ministries with which the Company has been working, attended the inauguration.

  • Reuters

    Ecuador opens first large-scale gold mine with Canada's Lundin

    Canadian miner Lundin Gold Inc inaugurated its Fruta del Norte gold mine in the Ecuadorean Amazon on Thursday, as market-friendly President Lenin Moreno seeks to attract mining investment to diversify the stagnant oil-dependent economy. The mine, whose proven reserves include some 4.8 million ounces of gold and 6.3 million ounces of silver, is expected to produce some 310,000 ounces of gold and 400,000 ounces of silver during its 15-year life span. Moreno, seeking to spur growth and close the OPEC member's fiscal deficit, has eliminated a windfall tax on miners to try to court investment from the sector.

  • CNW Group

    Lundin Gold Receives Key Permits for its Fruta Del Norte Gold Project

    VANCOUVER , Nov. 14, 2019 /CNW/ - Lundin Gold Inc. ("Lundin Gold" or the "Company") (TSX: LUG, Nasdaq Stockholm: LUG) reports that it has received the Industrial Water Permit and Administrative Act from La Secretaría Nacional del Agua (SENAGUA) for its Fruta del Norte gold project ("Fruta del Norte" or the "Project") in Ecuador. The process plant has been in the hot commissioning phase for about a month and, with these two permits in hand, the Project can move forward to first gold production, as planned, in this quarter. Lundin Gold , headquartered in Vancouver, Canada , is developing its wholly-owned Fruta del Norte gold project in southeast Ecuador.

  • Lundin Gold reports Q3 2019 results
    CNW Group

    Lundin Gold reports Q3 2019 results

    VANCOUVER , Nov. 8, 2019 /CNW/ - Lundin Gold Inc. ("Lundin Gold" or the "Company") (TSX: LUG, Nasdaq Stockholm: LUG) is pleased to announce its results for the three and nine months ended September 30 , 2019. "I want to congratulate our team on achieving two major project milestones: hot commissioning of the process plant is underway and the recent energization of the powerline. Overall construction progress was 89% complete.

  • CNW Group

    Lundin Gold Provides Further Update on its Fruta del Norte Gold Project

    VANCOUVER , Oct. 14, 2019 /CNW/ - Lundin Gold Inc. ("Lundin Gold" or the "Company") (TSX: LUG, Nasdaq Stockholm: LUG) reports that operations are returning to normal as the movement of key supplies and personnel to and from its Fruta del Norte gold project (the "Project") have resumed with the lifting road blocks in Ecuador today. The Company's efforts are now focused on ramping up activities safely. Now that the Project is on the national power grid, the Company expects that commissioning activities, which had been cut back, will return to the normal plan within the next few days.

  • CNW Group

    Lundin Gold Provides Update on Impact of Civil Unrest on its Fruta del Norte Gold Project

    VANCOUVER , Oct. 13, 2019 /CNW/ - Lundin Gold Inc. ("Lundin Gold" or the "Company") (TSX: LUG, Nasdaq Stockholm: LUG) reports that the ongoing civil unrest in Ecuador has started to have an impact on the activities on its Fruta del Norte gold project ("Fruta del Norte" or the "Project"). As a result, the Company has curtailed some activities in certain areas of the Project. The ongoing road blockades, which erupted in the country on October 3, 2019 , have prevented the movement of key supplies and personnel to and from Fruta del Norte.

  • Can We See Significant Institutional Ownership On The Lundin Gold Inc. (TSE:LUG) Share Register?
    Simply Wall St.

    Can We See Significant Institutional Ownership On The Lundin Gold Inc. (TSE:LUG) Share Register?

    The big shareholder groups in Lundin Gold Inc. (TSE:LUG) have power over the company. Institutions often own shares in...

  • Lundin Gold Reports Q2 2019 Results
    CNW Group

    Lundin Gold Reports Q2 2019 Results

    VANCOUVER , Aug. 9, 2019 /CNW/ - Lundin Gold Inc. ("Lundin Gold" or the "Company") (TSX: LUG, Nasdaq Stockholm: LUG) is pleased to announce its results for the three and six months ended June 30 , 2019.  All amounts are in U.S. dollars unless otherwise indicated. Detailed engineering was completed with only construction support engineering ongoing.

  • How Many Lundin Gold Inc. (TSE:LUG) Shares Have Insiders Sold, In The Last Year?
    Simply Wall St.

    How Many Lundin Gold Inc. (TSE:LUG) Shares Have Insiders Sold, In The Last Year?

    It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also...

  • Lundin Gold Initiates Mining of First Production Stope at Fruta Del Norte
    CNW Group

    Lundin Gold Initiates Mining of First Production Stope at Fruta Del Norte

    VANCOUVER , June 25, 2019 /CNW/ - Lundin Gold Inc. ("Lundin Gold" or the "Company") (TSX: LUG, Nasdaq Stockholm: LUG) is pleased to announce that it has begun mining of its first production stope at its Fruta del Norte gold project ("Fruta del Norte" or the "Project") in Ecuador .  Construction of the process plant and tailings facility continue on schedule with commissioning of the process plant to begin in the third quarter of this year. "Fruta del Norte reached another important milestone on schedule.  At the end of May overall construction progress was 73% complete and 88% of the Project's capital expenditure was committed.  The team continues to make great progress as we head towards our first gold pour later this year," said Ron Hochstein , Lundin Gold's President and CEO.

  • CNW Group

    Lundin Gold Announces Voting Results From Annual Meeting

    Lundin Gold Announces Voting Results From Annual Meeting