Kalkine Media - 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 (TSX:LUG)., 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 (TSX:SSL) 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.
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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 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)
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.