NGEX.TO vs. LUG.TO

Last updated Apr 1, 2026

Compare and contrast key facts about NGEx Minerals Ltd (NGEX.TO) and Lundin Gold Inc. (LUG.TO).

Performance

NGEX.TO vs. LUG.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in NGEx Minerals Ltd (NGEX.TO) and Lundin Gold Inc. (LUG.TO). The values are adjusted to include any dividend payments, if applicable.

NGEX.TO vs. LUG.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
NGEX.TO NGEx Minerals Ltd	-1.17%	116.91%	87.29%	132.47%	66.49%	255.77%	35.06%	-3.75%
LUG.TO Lundin Gold Inc.	-5.51%	291.32%	91.60%	29.57%	30.62%	-4.67%	31.21%	7.07%

Fundamentals

Market Cap NGEX.TO : CA$5.36B LUG.TO : CA$25.81B
EPS NGEX.TO : -CA$0.59 LUG.TO : CA$3.28
PB Ratio NGEX.TO : 12.19 LUG.TO : 18.95
Total Revenue (TTM) NGEX.TO : CA$0.00 LUG.TO : CA$1.79B
Gross Profit (TTM) NGEX.TO : -CA$18.47K LUG.TO : CA$1.26B
EBITDA (TTM) NGEX.TO : -CA$127.10M LUG.TO : CA$1.25B

Returns By Period

In the year-to-date period, NGEX.TO achieves a -1.17% return, which is significantly higher than LUG.TO's -5.51% return.

NGEX.TO

• 1D: 8.07%
• 1M: -19.73%
• YTD: -1.17%
• 6M: 10.78%
• 1Y: 120.28%
• 3Y*: 91.09%
• 5Y*: 119.05%
• 10Y*: —

LUG.TO

• 1D: 7.21%
• 1M: -16.21%
• YTD: -5.51%
• 6M: 20.71%
• 1Y: 151.69%
• 3Y*: 96.76%
• 5Y*: 64.31%
• 10Y*: 38.67%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

NGEX.TO vs. LUG.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NGEX.TO

NGEX.TO Risk / Return Rank: 89
NGEX.TO Sharpe Ratio Rank: 91
NGEX.TO Sortino Ratio Rank: 86
NGEX.TO Omega Ratio Rank: 86
NGEX.TO Calmar Ratio Rank: 89
NGEX.TO Martin Ratio Rank: 93

LUG.TO

LUG.TO Risk / Return Rank: 93
LUG.TO Sharpe Ratio Rank: 95
LUG.TO Sortino Ratio Rank: 89
LUG.TO Omega Ratio Rank: 90
LUG.TO Calmar Ratio Rank: 96
LUG.TO Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NGEX.TO vs. LUG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NGEx Minerals Ltd (NGEX.TO) and Lundin Gold Inc. (LUG.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NGEX.TO	LUG.TO	Difference
Sharpe ratio Return per unit of total volatility	2.08	2.59	-0.51
Sortino ratio Return per unit of downside risk	2.51	2.68	-0.18
Omega ratio Gain probability vs. loss probability	1.34	1.38	-0.04
Calmar ratio Return relative to maximum drawdown	3.75	6.23	-2.48
Martin ratio Return relative to average drawdown	13.12	17.98	-4.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NGEX.TO vs. LUG.TO - Sharpe Ratio Comparison

The current NGEX.TO Sharpe Ratio is 2.08, which is comparable to the LUG.TO Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of NGEX.TO and LUG.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NGEX.TO	LUG.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	2.59	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.87	1.42	+0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	0.00	+1.30

Correlation

The correlation between NGEX.TO and LUG.TO is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

NGEX.TO vs. LUG.TO - Dividend Comparison

NGEX.TO's dividend yield for the trailing twelve months is around 11.86%, more than LUG.TO's 4.69% yield.

	TTM	2025	2024	2023	2022
NGEX.TO NGEx Minerals Ltd	11.86%	11.72%	0.00%	0.00%	0.00%
LUG.TO Lundin Gold Inc.	4.69%	3.37%	2.69%	3.28%	1.97%

Drawdowns

NGEX.TO vs. LUG.TO - Drawdown Comparison

The maximum NGEX.TO drawdown since its inception was -66.75%, smaller than the maximum LUG.TO drawdown of -95.45%. Use the drawdown chart below to compare losses from any high point for NGEX.TO and LUG.TO.

Drawdown Indicators

	NGEX.TO	LUG.TO	Difference
Max Drawdown Largest peak-to-trough decline	-66.75%	-95.45%	+28.70%
Max Drawdown (1Y) Largest decline over 1 year	-30.62%	-25.33%	-5.29%
Max Drawdown (5Y) Largest decline over 5 years	-66.75%	-38.94%	-27.81%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.84%	—
Current Drawdown Current decline from peak	-20.54%	-16.21%	-4.33%
Average Drawdown Average peak-to-trough decline	-15.08%	-65.23%	+50.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.76%	8.78%	-0.02%

Volatility

NGEX.TO vs. LUG.TO - Volatility Comparison

NGEx Minerals Ltd (NGEX.TO) and Lundin Gold Inc. (LUG.TO) have volatilities of 21.25% and 20.25%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NGEX.TO	LUG.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.25%	20.25%	+1.00%
Volatility (6M) Calculated over the trailing 6-month period	46.93%	43.60%	+3.33%
Volatility (1Y) Calculated over the trailing 1-year period	58.27%	59.05%	-0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	64.36%	45.61%	+18.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.43%	43.61%	+26.82%

Financials