11:31 AM EDT, 04/11/2024 (MT Newswires) -- National Bank of Canada said Thursday that Lundin Gold ( LUGDF ) 's. (LUG.TO) first-quarter gold production of 111,600 ounces aligned with the bank's projection of 109,000 ounces.

Gold sales of 108,900 ounces were slightly below production.

National Bank said Lundin is on track to achieve its 2024 production guidance of 450,000 to 500,000 ounces as the company's output is weighted to the second half.

The bank ascribed a neutral bias to the results.

National Bank maintained Lundin's sector perform rating and C$24.50 price target.

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