Lundin Gold Kept at Market Perform at BMO on Guidance Release; Price Target Raised to C$115.00

MT Newswires Live12-10

BMO Capital Markets on Tuesday reiterated its market-perform rating on the shares of Lundin Gold (LUG.TO) while raising its price target to C$115.00 from an undisclosed prior level after the company released guidance for 2026 and beyond.

" LUG released three-year guidance, and while 2026/2027 production guidance (475-525koz) was in line with our expectations, 2028 production guidance (475-525koz) was better than our prior expectations. Compared to our estimates, a potential mill expansion offset declining grades. Costs were roughly in line with our expectations, but above previous guidance, primarily due to a higher assumed metal price ($4,000/oz vs. previous $2,500/oz).

Sustaining Capital Guidance was roughly in line with our estimates. We maintain our Market Perform rating and raise our target price to C$115.00," analyst Brian Quast wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 106.46, Change: -3.15, Percent Change: -2.87

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