37.00 -0.09 (-0.24%)
After hours: 7:42PM EDT
|Bid||37.01 x 900|
|Ask||37.00 x 1300|
|Day's Range||36.73 - 39.34|
|52 Week Range||18.02 - 51.08|
|Beta (5Y Monthly)||-0.26|
|PE Ratio (TTM)||12.75|
|Forward Dividend & Yield||0.50 (1.26%)|
|Ex-Dividend Date||Mar 30, 2020|
|1y Target Est||N/A|
For those feeling lost in all of the stock market fog, investing gurus can offer a sense of clarity. No one more so than John Paulson, the billionaire investor who made a fortune by betting against the 2007 housing bubble.Paulson built his name and reputation the old hard way – in 1994 he parlayed his $2 million in seed money into one of the most successful hedge funds on Wall Street. In its last 13F filing, for Q1 2020, his firm, Paulson & Co, reported nearly $10.7 billion in assets under management. And in recent days, his long-term love affair with gold stocks has started turning away from lackluster returns.Gold is not the only thing drawing in Paulson’s attention – and his money. He has also recently bought heavily into heavy industrial stocks and cutting-edge high techs. We’ve used TipRanks’ database to pull up the details on three of Paulson’s recent major purchases to find out what makes those stocks special.Kirkland Lake Gold (KL)The first stock we’ll look at is, indeed, a gold stock. In fact, with a market cap over $10 billion, Kirkland plays in the gold mine big leagues. The company has six operating mines, in Canada and Australia, which last year produced over 974,000 ounces of gold. Even after the coronavirus hit, the company estimates 2020 production at 1.5 million ounces, telling investors that the increase is based on higher quality ores coming out of the mines. Kirkland’s financial position is sound, and the company saw free cash flow increase by 81% last year.In the first quarter of this year, Paulson took out a new position in KL stock, buying up more than 1.5 million shares. This is a clear sign that Paulson remains bullish on gold. In the case of Kirkland, this makes sense, as the stock, three months after the February market collapse, is back at pre-bear prices.Writing from CIBC, 5-star analyst Cosmos Chiu also sees clear sailing ahead for KL. He writes, “We continue to like Kirkland Lake Gold as one of our top picks, with three cornerstone assets of Fosterville, Macassa, and Detour Lake that continue to drive high profitability. In Q1, Kirkland Lake Gold generated $191.4 million in adjusted FCF, with Detour Lake contributing $78 million from its first two months…”Chiu’s opinion backs his Buy rating, as does his C$69 (US$$50.20) price target. At current prices, this target suggests a robust 33% upside for the coming year. (To watch Chiu’s track record, click here)Overall, Wall Street agrees that KL is a buying proposition. The stock’s 10 recent reviews break down to 7 Buys and 3 Holds, making the analyst consensus rating a Moderate Buy. KL is currently selling for $37.64, and the $47.13 average price target implies an upside of 25% this year. (See Kirkland stock analysis on TipRanks)Tech Data Corporation (TECD)The next stock on our list is not a new position for Paulson, but it is one that he increased substantially. Tech Data fills a vital niche in the IT industry. The company sells a broad range of products, from logistic capabilities and add-on value to some of the biggest names in tech. TECD’s products, in short, allow cloud, IoT, and other tech applications to work seamlessly.And let’s face it, that’s a niche that will benefit from the coronavirus crisis. With so many people shut in their homes for nearly three months, and millions of workers switching to telecommuting, networking and other high-tech connection devices were in high demand. While the market slumped in February/March, TECD saw a huge jump in earnings for Q1. While Q1 is historically the company’s best of the year, the sequential gains going into Q1 2020, of 60%, were substantially higher than the 50% sequential gain recorded between Q4 2018 and Q1 2019. The results for Q1 2020 were solid; the company reported $4.88 in EPS, beating the forecast by 2%, on top of the strong sequential gain.Tech Data’s solid position in a niche bound to see gains was clear to Paulson. He increased his holding in the stock by 50%, buying over 66,000 shares to make his total holding 200,000. At the current share price, this worth $26.7 million. Reward potential is the name of the game for 5-star Northcoast analyst Keith Housum. In his note on this stock, in which he upgraded his firm’s stance from Neutral to Buy, Housum wrote, “The recent market dislocation has created a risk/reward profile that is leaning convincingly toward a great short term opportunity for investors to lock in a 18% gain to be recognized over next several months.”Housum set a $145 price target on TECD shares, suggesting an upside that now stands at 6.5% for the next 12 months. His is the only recent review of the stock in the TipRanks database – but the Smart Score on this stock, which analyzes 8 separate factors that influence future share price, is a perfect 10. (See Tech Data stock analysis at TipRanks)Navistar (NAV)The third stock on our list is Navistar, a major player in heavy industry. The company’s main subsidiary, International, is a name well-known to truckers; it produces heavy trucks, busses, and diesel engines for both the commercial markets and the defense industry. That cereal you ate for breakfast this morning? There’s good chance it was delivered to the grocery store in an International truck.The economic shutdowns in response to coronavirus hit NAV hard, and the company’s stock – which had been riding high after a strong Q4 earnings beat – has still not recovered from the February price crash. There are at least two bright spots. First, the Q1 losses were not quite as deep as expected; NAV reported a net loss of 33 cents per share, against the forecast of 38 cents. And second, the company is sitting on $1 billion in available cash, and requires about half that sum to maintain operations. It’s an enviable position for any company to hold, and, along with is one of the company’s clear strengths.That NAV has clear strengths is shown by Paulson’s move toward the stock. He bought up over 223,000 shares in Q1, opening a new position that is currently worth almost $5.8 million. Paulson is known for accepting risk – but he’s also known for betting big before the markets change direction.It’s worth paying attention, because on this one Paulson is heading at right angles to the Wall Street sentiment. BMP Capital’s Joel Tiss rates NAV a Hold, writing, “The company has done a tremendous amount of work to lower its cost structure, redesign its products, and gain back some lost market share all while trimming its less profitable product lines… and seeing that the need for new vehicles from large leasing and rental companies is projected to drop by as much as 50% y/y in 2020, we expect the company’s market share could come under further pressure this year.”Even with his Hold, however, Tiss does not give up on NAV. His $35 price target implies a solid upside of 34% for the coming year. (To watch Tiss’ track record, click here)NAV has a unanimous analyst consensus rating – a solid Hold, based on 6 reviews. The stock has been volatile in the past year, and the current share price is $26.68. At $31.33, the average price target indicates room for a potentially strong upside of 17%. (See Navistar stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Gold stocks rallied 122% off the March market low as gold prices surged. Here's the outlook for Barrick Gold, Kirkland Lake, Kinross and others.
With that, I would now like to turn the call over to Vice President of Investor Relations, Mark Utting. On today's call, we will review the quarter and also discuss some of our projects as well as recent exploration results. With me today are many members of the Kirkland Lake Gold senior management team.
Kirkland Lake Gold (KL) delivered earnings and revenue surprises of -14.63% and 5.99%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
TORONTO, May 06, 2020 -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced the Company’s financial and operating.
Higher production at Fosterville and increased gold prices are likely to get reflected on Kirkland Lake Gold's (KL) first-quarter 2020 results.
TORONTO, April 27, 2020 -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced that the Company will release its.
Drilling through east portion of Main Break at Macassa intersects high-grade mineralization in close proximity to #4 Shaft (currently under development) and planned exploration.
One thing is certain: April has come in like a lion for the stock markets. In the first 11 trading sessions of the month, there have been 4 day of net-loss trading – and 7 of net-gain, with the gains heavily outweighing the losses. The S&P 500 has gained 11% so far this month, in a classic bear market rally. The gains have prompted some speculation that, for the stock market least, the worst may be over.But with earnings season around the corner, some analysts are saying that good mood may be too much, too soon.Mark Mobius, founder of Mobius Capital Partners, points out that reported corporate earnings are going to be grim, after the dislocations of the first quarter. “We might see a double bottom,” he says, referring to the possibility that markets may collapse a second time when earnings come in far below their year-ago levels. With governmental authorities and agencies unsure how, when, or if to reopen economic activity, Mobius says, “I think we have to open up again in some way, because otherwise the collateral damage is going to be incredible.”All in all, it is not a pretty picture despite a current market uplift. And so, some investors are starting to seek out safe havens, ports to ride out the storm while protecting their funds. The traditional move for investors seeking safety is to gold, a generally reliable store of value. But buying metal is not the only way to get into gold. Investors can also buy stock in gold miners. While this move carries more risk than metal purchases, miners derive their strength in part from the quality of their product – as good as gold. Gold miners offer a lower-cost avenue for investors looking to buy into precious metals.Bearing this in mind, we used TipRanks’ database to pinpoint three Buy-rated miner stocks that have earned a thumbs up from members of the analyst community. Not to mention each boasts substantial upside potential of over 15%. Let's take a closer look.Coeur Mining (CDE)Chicago-based Coeur Mining holds and operates five major gold and silver mines in North America. Taken together, the company’s mines produced 11.5 million ounces of silver and 359,000 ounces of gold in 2019. In addition, Coeur also extracted 17 million pounds of zinc and 16 million pounds of lead from its British Columbia mine. These numbers make Coeur one of the world’s largest producers of silver.Earlier this month, the company announced that it will be suspending activity in its Mexican operations, in compliance with Mexican government decrees shutting down non-essential businesses as a measure to contain the COVID-19 epidemic. In its statement Coeur said that, due to general disruption caused by COVID-19, the company’s previously published 2020 guidance is also suspended.However, 5-star analyst Joseph Reagor of Roth Capital sees CDE as buying opportunity, in part because the shares have been pushed so low. He notes that the silver to gold ratio is likely to improve (tilt more toward gold) over the course of 2020, and writes, “CDE's share price has seen significant selling pressure over the last two months and the withdrawal of guidance has caused further selling pressure, in our view. We believe this has created a significant value opportunity for investors…”In line with this view, Reagor has upgraded his stance on CDE from Neutral to Buy. His $5 price target on the stock implies an upside of 16% for 2020. (To watch Reagor’s track record, click here)Wall Street almost evenly split between the bulls and those choosing to play it safe. Based on 5 analysts tracked in the last 3 months, 3 rate the mining stock a Buy, while 2 suggest Hold. Notably, the 12-month average price target stands at $5.28, marking a 21% in return potential for the stock. (See Coeur Mining stock analysis on TipRanks)Eldorado Gold (EGO)In mid-2019, Eldorado Gold switched from running losses to turning profits, and the stock rose that summer from under $5 to nearly $10. EGO shares have been highly volatile in the bear market of the past four weeks, but currently stand at a higher level than when the bear began. Eldorado owns and operates mines in the Balkan Peninsula and Turkey, as well as Quebec and Brazil. The company produces gold, silver, lead, and zinc.EGO started 2020 in a strong position, after finishing 2019 with an adjusted net income of $20.3 million in the fourth quarter. This gave an EPS of 13 cents, well above the 10-cent forecast. Quarterly revenues were reported at $191.9 million, for 106% year-over-year growth. EGO had reported net losses in both Q4 2018 and Q1 2019 – the Q4 2019 results were a clear turnaround.Looking ahead, Eldorado has not announced any mine shutdowns due to Coronavirus, and indicates Q1 gold production of 115,949 ounces, in line with expectations. Production is lower than Q1 2019 – this is due, however, to exploitation of lower-grade ores rather than pandemic issues. The company will release full Q1 earnings at the end of this month.National Bank of Canada analyst Mike Parkin reads the Q1 preliminaries as a reason to buy this stock. He writes, “The quarter came in soft to our estimates and proved modestly lighter Q/Q, however we are not concerned with the results and would be buyers on any weakness as valuation currently is attractive in our view.”Parkin backs his stance with a Buy rating and a price target of C$15.50 (US$11.06), which suggests an upside of 33% for the stock. (To watch Parkin’s track record, click here)EGO shares are selling for US$8.87, and the average price target of US$$11.29 suggests that the stock has a 27% upside potential in the next 12 months. The analyst consensus rating, a Moderate Buy, is based on 4 Buy ratings, 2 Holds, and 1 Sell. (See Eldorado stock analysis on TipRanks)Kirkland Lake Gold (KL)With a market cap of $11 billion, Kirkland is the largest of the gold miners on this list. The company operates six mines in Canada and Australia, and produced over 974,000 ounces of gold last year. 2020 production is targeted at 1.5 million ounces, with the proposed increase reflecting the quality of ore exploited in the company’s mines. Closing out 2019, Kirkland saw revenue of $1.38 billion, adjusted net earnings of $2.74 per share, and an 81% increase in free cash flow to $463 million.Kirkland is committed to returning profits to shareholders, and raised its dividend twice last year. The first increase bumped the payment from 3 cents in Q2 to 4 cents in Q3, while the second raised it to 6 cents in Q4. Looking forward, KL has announced another increase to the dividend, to 12.5 cents in Q1 2020. The company has a 3-year history of steady dividend growth, and the 14% payout ratio shows that there is plenty of room for more increases. At current levels, the dividend yield is 1.45%. While lower than the average dividend in the broader market, the company’s profitability, track record of dividend increases, and low payout ratio make it attractive.5-star Stifel analyst Ian Parkinson believes this is a stock worth holding on to. Parkinson rates KL shares a Buy, and his CA$63.00 (US$44.77) price target suggests a solid upside potential of 23%. (To watch Parkinson's track record, click here)Parkinson commented, "Despite the logistical issues surrounding the COVID-19 situation, Detour Lake was able to largely perform to expectations in its first two months post-acquisition. Management still expects to carry out an extensive drill program at Detour through 2020. Fosterville production remained in line based on continued elevated grade; Macassa was the only laggard. Q1 performance was slightly behind our original expectations and Q2 will feel major impacts from the COVID-19 pandemic. The asset quality coupled with strong gold prices particularly in local currency ensure KL is well positioned to emerge from the current health crisis and deliver substantial returns for shareholders."All in all, when looking at Wall Street’s stance, Parkinson is not the only bull, as TipRanks analytics showcase Kirkland as a Buy. Out of 11 analysts tracked in the last 3 months, 8 rate the stock a Buy, while 3 remain sidelined. The 12-month average price target stands at US$40.92 marking nearly 12% upside from where the stock is currently trading. (See Kirkland Lake stock analysis at TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Q1 2020 production included 91,555 ounces related to production in Q1 2020 from Detour Lake Mine (“Detour Lake”), following the Company’s acquisition of Detour Gold Corporation (“Detour Gold”) on January 31, 2020. Excluding the impact of Detour Lake Mine, Q1 2020 production was 7,430 ounces or 3% higher than the same period in 2019, reflecting a 24% increase in production from Fosterville.
TORONTO, April 06, 2020 -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced that the Company will host a conference.
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (KL.TO) (KL.TO) (ASX:KLA) today announced additional business reductions in response to the COVID-19 pandemic, including the temporary suspension of operations at the Holt Complex in Northern Ontario, and a move to reduced operations at the Macassa Mine in Kirkland Lake, Ontario. The new measures, which are in effect until April 30, 2020, follow the transition of the Detour Lake Mine to reduced operations effective March 23, 2020 (see press release dated March 22, 2020 for more information). The health and safety of employees is Kirkland Lake Gold’s number one priority.
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (KL.TO) (KL.TO) (ASX:KLA) was informed on Friday, March 27, 2020 that a worker who had been at Detour Lake Mine earlier this month has tested positive for the COVID-19 virus. All Detour Lake Mine employees were notified upon the Company being informed of the positive test on March 27th with instruction to be particularly vigilant in self-monitoring for signs of symptoms, particularly until March 30th (14 days after the worker’s departure from site). In addition, the Company has been informed by public health officials involved in the case, that all persons identified by the worker as having been in close contact have been contacted directly by the Porcupine Health Unit and instructed to seek a medical assessment and to self-isolate if advised to do so.
The moves in the financial markets have been gut-wrenching. However, I'm an optimist and I do believe in the ascent of man. Humanity will prevail, asserts Omar Ayales, editor of Gold Charts R Us.
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (KL.TO) (KL.TO) (ASX:KLA) today announced a number of initiatives designed to protect employees, their families and local communities from the COVID-19 virus. Included among the initiatives are the introduction of company-wide health and safety protocols, a temporary reduction in operations at the Detour Lake Mine, a remote operation with a large accommodation camp, until April 30, 2020, the suspension of non-essential work at all operations, as well as the suspension of all exploration activities across the Company. In addition, the Company also announced today it will terminate the Automatic Share Purchase Plan (“ASPP”) effective March 23, 2020.
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (KL.TO) (KL.TO) (ASX:KLA) today reported on progress with share repurchases through the Company’s normal course issuer bid (“NCIB”) and declared the quarterly dividend for the first quarter of 2020. 10.1 million common shares repurchased: A total of 10.1 million common shares have been repurchased through the Company’s current NCIB program.
To the annoyance of some shareholders, Kirkland Lake Gold (TSE:KL) shares are down a considerable 34% in the last...
Should gold stocks be on your buy list as the gold price seesaws higher amid the coronavirus threat? Here's a primer on investing in gold.
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (KL.TO) (KL.TO) (ASX:KLA) today announced the appointment of Ingrid Hibbard and Peter Grosskopf to the Company’s Board of Directors. Ms. Hibbard has over 30 years of experience spanning all facets of the mineral resources industry. Ms. Hibbard is currently the President, Chief Executive Office and director of Pelangio Exploration Inc., a Canadian exploration company with properties in Canada and Ghana.