Kirkland Lake Gold Reports Quarterly Earnings and Updates Annual Guidance

On November 2, Kirkland Lake Gold Ltd. (KL) reported third-quarter earnings. Although its EPS of $0.20 fell short of the analyst consensus average of $0.22, the company increased its earnings expectations for the year. The company’s targeted annual production rose to between 580,000 and 595,000 ounces. In addition, the quarterly dividend increased from $0.01 per share to $0.02 per share.

 

Sonal caught the news and issued an alert at 8:00 am. The next trade was during the pre-market hours at 8:04 am for $12.42. Regular market trading opened for the day at $12.60. The stock price climbed through the day before closing at $13.27. The stock price continued to trend higher for the next few trading sessions. Kirkland Lake Gold closed at $14.50 on November 9. That makes a gain of almost 17% in the week following the earnings news.

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