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Kirkland Lake Gold Ltd
Symbol KL
Shares Issued 210,189,007
Close 2019-10-11 C$ 59.14
Recent Sedar Documents

Globe says outlook bright for Kirkland Lake Gold

2019-10-15 07:21 ET - In the News

The Globe and Mail reports in its Saturday, Oct. 12, edition that Canaccord Genuity analysts expect "significantly" strong third quarter results for TSX-listed precious metals company, pointing to the "strong" price of gold and second-half weighted production for most producers. The Globe's David Leeder writes that Canaccord said in a research note: "We forecast precious metals producers in our coverage universe to double earnings quarter-over-quarter on average (85-per-cent quarter-over-quarter growth for the S&P/TSX Gold index). This is well ahead of every sector in the S&P500, with earnings for the S&P overall expected to be relatively flat. As we highlighted we expect sustaining FCF to roughly double in H2/19 compared to H1/19, on the back of 10-per-cent higher production growth and a 14-per-cent higher gold price. Based on better cost structures, producers are poised to realize record 2020 AISC [all-in sustaining cost] margins of $570 per ounce at $1,500 per ounce, surpassing the 2011 peak of $524 per ounce, which featured a $1,669 per ounce." Canaccord continues to rate Kirkland Lake Gold "buy" while elevating its share target to $70 from $66. Analysts on average target the shares at $63.99.

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