#1 - Kirkland Lake Gold (NYSE:KL)
Year-to-Date Gain: 14%
The first company we’re looking at is Kirkland Lake Gold (NYSE: KL) because they just reported earnings on July 30. And the earnings were very good. In terms of profit, the company generated 79 cents per share. That’s a gain of over 50% from the same quarter in 2019. And it’s a jump of over 10% from the previous quarter. The revenue story was also strong. The company’s revenue totaled $581 million which was 107% year-over-year gain and a 5% beat from the prior quarter.
However one of the best reasons to love Kirkland stock is because the company is sitting on $537.4 million in cash on its balance sheet with no debt. And this was accomplished despite the company acquiring Canada’s Detour Lake mine. Furthermore, Kirkland is standing by its full-year production growth guidance of between 1.35 and 1.4 million ounces.
Kirkland stock has a 12-month price target of $53, but recent price targets have been higher with one as high as $75 per share. But for the Toronto-based company, every new high the stock hits will be a new all-time high, so the company has already exceeded many expectations.
About Kirkland Lake Gold
Kirkland Lake Gold Ltd. engages in the mining, development, and exploration of gold properties. The firms projects include Holt Mine, Macassa Mine, and Detour Lake Mine. The company was founded on June 29, 1983 and is headquartered in Toronto, Canada.
- Current Price
- $38.92
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
