11:42 AM EST, 02/21/2025 (MT Newswires) -- (Updates shares.)

Lundin Gold ( LUGDF ) late on Thursday reported a jump in its fourth-quarter adjusted earnings on higher revenue and production.

The company's adjusted earnings, excluding most one-time items, rose to US$129.1 million, or US$0.54 per share, up from US$33.2 million, or US$0.14, in the year-prior quarter.

Revenue rose to US$341.8 million from US$190.7 million. Adjusted EBITDA was US$232.2 million, jumping from US$95.9 million.

The company produced 135,241 gold ounces, up from 99,310 gold ounces, in the fourth quarter of 2023.

Lundin Gold ( LUGDF ) maintained its 2025 guidance for gold production of between 475,000 and 525,000 ounces.

Separately, Lundin Gold ( LUGDF ) boosted its quarterly cash dividend to US$0.30 per share from US$0.20 per common share.

The dividend will be paid on March 26 to shareholders of record on March 11.

The board has also approved the company's notice of intention to launch a normal course issuer bid, which has been accepted by the TSX.

Under the NCIB, Lundin may buyback and cancel up to 12-million shares, 5% of its issued and outstanding common shares as of Feb. 11.

Purchases can be made during over 12 months starting Feb. 25, and ending Feb. 24, 2026, or when it reaches the maximum amount permitted under the NCIB.

Lundin Gold ( LUGDF ) shares were last seen up $1.69 to $40.06 on the Toronto Stock Exchange.

Price: 39.90, Change: +1.53, Percent Change: +3.99