LUG &SSL: How have these gold stocks performed - Kalkine Media

July 14, 2023 09:47 AM EDT | By Akanksha Vashisht
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Summary

  • The S&P/TSX Composite index rose by 206 points S&P/TSX global mining index also rose 1.42 points on July 13, 2023.
  • Lundin Gold Inc., a gold mining company, has a P/E ratio of 39.90x based on its closing price of CA$17.56 on July 13, 2023.
  • Sandstorm Gold Ltd. finances gold mining companies and has a P/E ratio of 24.60x based on its closing price of CA$7.38 on July 13, 2023.

The S&P/TSX Composite index rose by 206 points on July 13, 2023, much like other major indexes across the market. The current bullish conditions can be credited to the rise in the US market and rising gold mining shares.

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Gold, which is popular as an inflation hedge, has lifted the markets as inflationary fears recede in the US. The S&P/TSX global mining index also rose 1.42 points on July 13, 2023. Now here are two gold stocks that can be examined by investors:

Lundin Gold Inc. (TSX: LUG)

Lundin Gold focuses its gold mining operations in its Fruta del Norte gold mine, which is located within a 150km long copper-gold sub-province in southeastern Ecuador.

Lundin reported revenues of US$256.72 million for the three months ended March 31, 2023, as against US$216.47 million in the March 2022 quarter. The net income for the March 2023 quarter was US$51.46 million, compared to US$23.18 million.

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LUG has a P/E ratio of 39.90x based on Thursday’s closing price of CA$17.56. The stock price rose 1.86% on July 13, 2023.

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Sandstorm Gold Ltd. (TSX: SSL)

Sandstorm finances gold mining companies through stream and royalty. It has a market cap of CA$2.17 billion and a portfolio of 250 royalties.

The company reported revenue (preliminary) of CA$49.8 million for the June 2023 quarter. This included 19,726 gold equivalent ounces and CA$36 million in revenue.

The company also announced third quarter cash dividend of CA$0.02 per common stock. The dividend is to be paid on July 28, 2023 to shareholders as on July 18, 2023.

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SSL has a P/E ratio of 24.60x based on Thursday’s closing price of CA$7.38. The stock grew 5.81% over the past month as on July 14, 2023.


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