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Kirkland Lake Gold's (KL) Q1 Earnings and Sales Lag Estimates

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·3 min read
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Kirkland Lake Gold Ltd. KL reported net earnings of $161.2 million or 59 cents per share in first-quarter 2021 compared with $202.9 million or 77 cents in the year-ago quarter.

Barring one-time items, adjusted earnings per share were 63 cents that missed the Zacks Consensus Estimate of 67 cents.

The company recorded revenues of $551.8 million, down 0.5% year over year. The top line lagged the Zacks Consensus Estimate of $553.5 million.

Kirkland Lake Gold Ltd. Price, Consensus and EPS Surprise

Kirkland Lake Gold Ltd. Price, Consensus and EPS Surprise
Kirkland Lake Gold Ltd. Price, Consensus and EPS Surprise

Kirkland Lake Gold Ltd. price-consensus-eps-surprise-chart | Kirkland Lake Gold Ltd. Quote

Operational Highlights

Total gold production was 302,847 ounces in the quarter, down 8.5% year over year. Average realized price of gold was $1,788 per ounce, up 13% year over year.

Operating cash costs per ounce for gold rose 23.2% year over year to $542. All-in sustaining costs (AISC) for gold increased 9% year over year to $846 per ounce in the quarter.

Financial Position

At the end of the first quarter 2021, Kirkland Lake Gold had cash and cash equivalents of $792.2 million, up 249.2% year over year.

Net cash provided by operating activities declined 13.8% year over year to $208.2 million in the quarter.

Guidance

For 2021, the company expects total gold production between 1,300,000 ounces and 1,400,000 ounces. AISC for gold is expected between $790 and 810 per ounce in 2021. Operating cash costs per ounce sold is projected in the range of $450-$475.

Price Performance

The stock has declined 0.4% in the past year against 1.2% rise of the industry.

Zacks Rank & Key Picks

Kirkland Lake Gold currently carries a Zacks Rank #5 (Strong Sell).

Some better-ranked stocks in the basic materials space are Dow Inc. DOW, Nucor Corporation NUE and Impala Platinum Holdings Limited IMPUY.

Dow has a projected earnings growth rate of roughly 261.5% for the current year. The company’s shares have surged 103.7% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Nucor has an expected earnings growth rate of around 228.4% for the current year. The company’s shares have gained 143.1% in the past year. It currently sports a Zacks Rank #1.

Impala has an expected earnings growth rate of 197.6% for the current fiscal. The company’s shares have skyrocketed 253.1% in the past year. It currently flaunts a Zacks Rank #1.

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Dow Inc. (DOW): Free Stock Analysis Report

Impala Platinum Holdings Ltd. (IMPUY): Free Stock Analysis Report

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