Commodities
Lundin Gold's Earnings Fall Short Amid Weaker Gold Price
Lundin Gold's second-quarter earnings reported a significant decline from its previous quarter, with net income falling to $220 million or $0.91 per share from $273 million or $1.13 in the first quarter.
The company's adjusted EBITDA also decreased to $347 million from $424 million, while operating cash flow dropped to $125 million from $370 million.
Cash and equivalents ended the quarter at $507 million, down from $704 million after a payment of $293 million in dividends.
The company's gold production remained steady at 118,994 ounces, but sales lagged behind production at 110,385 ounces.