TSX · Gold · CAD

Lundin Gold Inc. (LUG.TO) Stock Analysis

Lundin Gold Inc. (LUG.TO) is a Gold stock listed on TSX and quoted in Canadian Dollar.

Last Updated: October 21, 2026

LUG.TO

CA$91.02

+CA$0.75 (+0.83%)

Oct 21, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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LUG.TO Key Statistics

As of Oct 21, 2026

Trading

Open: CA$91.00
Previous Close: CA$90.27
Day's Range: 89.32–91.25
52-Week Range: 71.51–124.15
Volume: 366.99K
Beta: 1.49

Valuation

Market Cap: CA$22.01B
P/E Ratio: 17.04
Forward P/E: 15.58
P/S ratio: 10.90
EPS (ttm): 5.34

Financials (FY)

Revenue (FY): CA$1.78B+49.44%
Net Income (FY): CA$792.15M+85.93%
Profit margin: 46.32%
Shares Outstanding: 241.79M
1-Year Return: +2.38%

Dividend and dates

Dividend: CA$5.94+6.58%
Ex-Dividend Date: September 10, 2026
Earnings Date: November 4, 2026
Avg Volume: 574.44K

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

Key facts

As of October 21, 2026, LUG.TO closed at CA$91.02, +2.38% over 1 year.

Lundin Gold Inc. (LUG.TO) has a market capitalization of CA$22.01B.

In fiscal 2025, LUG.TO reported revenue of CA$1.78B.

LUG.TO Stock Return by Calendar Year

Lundin Gold Inc. (LUG.TO) 10-year return: what CA$10,000 became

1 year: CA$10,000 CA$10,238; +2.38%
5 years: CA$10,000 CA$100,555; +905.55%
10 years: CA$10,000 CA$189,077; +1,790.77%

If you had invested CA$10,000 in Lundin Gold Inc. (LUG.TO) 10 years ago, at the close on October 21, 2016, it would have been worth CA$189,077 at the close on October 21, 2026: +1,790.77% in total, +34.17% a year, with dividends reinvested. A historical calculation from closing prices adjusted for splits and dividends, before fees and taxes.

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

−13.88%+291.32%−12.77%

2016*2017201820192020202120222023202420252026*

Year	Return
2026 (partial year)	−12.77%
2025	+291.32%
2024	+91.60%
2023	+29.57%
2022	+30.62%
2021	−4.67%
2020	+31.21%
2019	+66.93%
2018	+10.16%
2017	−13.88%
2016 (partial year)	−4.19%

As of October 21, 2026.

LUG.TO Revenue and Earnings by Fiscal Year

FY ends December

RevenueNet income

2022202320242025

Fiscal year	Revenue	Net income	Net margin
2025	CA$1.78B	CA$792.15M	44.4%
2024	CA$1.19B	CA$426.05M	35.7%
2023	CA$902.52M	CA$179.46M	19.9%
2022	CA$815.67M	CA$73.56M	9.0%

Fiscal year	Revenue	Gross profit	Operating income	Net income	Net margin
2025	CA$1.78B	CA$1.23B	CA$1.10B	CA$792.15M	44.4%
2024	CA$1.19B	CA$703.39M	CA$629.60M	CA$426.05M	35.7%
2023	CA$902.52M	CA$435.18M	CA$390.43M	CA$179.46M	19.9%
2022	CA$815.67M	CA$369.75M	CA$334.90M	CA$73.56M	9.0%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

LUG.TO Dividend History

’22’23’24’25’26*

CA$3.64+366.1% vs 2024

Dividends per share, 2025 · 5 payments

Year	Dividends per share	Payments	Change
2026*	CA$4.66	3	—
2025	CA$3.64	5	+366.1%
2024	CA$0.78	4	+52.0%
2023	CA$0.51	4	+107.7%

Year	Dividends per share	Payments	Change
2026 (partial year)	CA$4.66	3	—
2025	CA$3.64	5	+366.1%
2024	CA$0.78	4	+52.0%
2023	CA$0.51	4	+107.7%
2022	CA$0.25	1	—

Most recent payment: CA$1.55 per share, ex-dividend September 10, 2026. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

LUG.TO Valuation vs Gold Median

Median of 93 stocks

Metric	LUG.TO	Gold median	vs median
P/E	17.04	12.32	38% above
P/S ratio	10.90	4.56	139% above
Profit margin	46.32%	31.40%	14.9 pts above

Medians across 93 Gold stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of October 21, 2026.

Analysis

Data-derived

Company Overview

Lundin Gold Inc. (LUG.TO) carries a market capitalisation of CA$22.01B. The company sits in the Basic Materials sector, in the Gold industry.

LUG.TO last closed at CA$91.02 on October 21, 2026. That is +CA$0.75 (+0.83%) against the previous close. The 52-week range on file runs from CA$71.51 to CA$124.15. The latest close sits 27.28% above that 52-week low.

Financial Health

The most recent full year on file, fiscal 2025, shows revenue of CA$1.78B. Against the prior fiscal year total of CA$1.19B, that is a change of +49.44%. The same year closed with net income of CA$792.15M. That is +85.93% against the prior fiscal year. The reported profit margin is 46.32%. That is 14.9 percentage points above the Gold median of 31.4%. Trailing earnings per share are 5.34.

Across the 4 fiscal years on file, revenue moves from CA$815.67M in 2022 to CA$1.78B in 2025. Of those 4 years, 4 report positive net income.

Valuation Assessment

The trailing P/E ratio stands at 17.04. That is 38.37% above the Gold median of 12.32. On forward earnings the ratio is 15.58. Measured against sales, the shares trade at 10.9 times revenue. On price-to-sales that is 139.09% above the Gold median of 4.56. 93 Gold companies report these metrics, and the medians quoted come from that group.

Over the trailing twelve months the total return is +2.38%. Across 10 years the annualized return works out at +34.17%. The reported beta is 1.49. Annualized volatility over the trailing 10 years is 44.02%.

Growth & Income

LUG.TO pays a dividend yielding 6.58%. That is 5.5 percentage points above the Gold median yield of 1.05%. At the indicated rate that is CA$5.94 a share a year. The ex-dividend date on file is September 10, 2026. Dividends are recorded for 5 calendar years; 2026 shows 3 payments totalling CA$4.66 a share. The year before, 2025, totalled CA$3.64 a share.

The strongest complete calendar year on file is 2025 at +291.32%; the weakest is 2017 at −13.88%. Of the 9 complete calendar years on file, 7 finished higher. So far in 2026 the total return is −12.77%.

Peer Comparison

Lundin Gold Inc. (LUG.TO) operates in the Gold industry. Here is how it compares to its closest peers by market capitalization:

Company	Ticker	Market Cap	P/E Ratio
Lundin Gold Inc.	LUG.TO	CA$22.01B	17.0
Newmont Corporation	NEM	$123.47B	14.8
Agnico Eagle Mines Limited	AEM	$94.87B	16.0
Barrick Mining Corporation	ABX.TO	CA$94.18B	10.7

Market caps are shown in each company's own trading currency, without conversion, and the peers are listed in order of these unconverted figures.

The Gold industry average P/E ratio is 12.3x. Lundin Gold Inc. trades at a P/E of 17.0.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

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About Lundin Gold Inc.

Lundin Gold Inc., together with its subsidiaries, develops and operates its mineral concessions in Ecuador. It explores for gold and silver deposits. The company holds interests in 27 metallic mineral concessions and 3 construction material concessions covering an area of approximately 65,000 hectares located in Ecuador. It also holds a 100% interest in the Fruta del Norte gold project that comprising seven concessions covering an area of approximately 5,566 hectares located in the Cordillera del Cóndor region of southeast Ecuador. The company was formerly known as Fortress Minerals Corp. and changed its name to Lundin Gold Inc. in December 2014. Lundin Gold Inc. was incorporated in 1986 and is headquartered in Vancouver, Canada.

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