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Kirkland Lake Gold (KL) Q2 Earnings Top Estimates, Sales Meet

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·3-min read
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Kirkland Lake Gold Ltd. KL reported net earnings of $224.2 million or 91 cents per share in second-quarter 2021 compared with $150.2 million or 54 cents in the year-ago quarter.

Barring one-time items, adjusted earnings per share were 92 cents that topped the Zacks Consensus Estimate of 85 cents.

The company recorded revenues of $662.7 million, up 14% year over year. The figure was in-line with the Zacks Consensus Estimate.

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 379,195 ounces in the quarter, up 15% year over year. Average realized price of gold was $1,814 per ounce, up 5.7% year over year.

Operating cash costs per ounce for gold rose 15.2% year over year to $431. All-in sustaining costs (AISC) for gold increased 3.9% year over year to $780 per ounce in the quarter.

Financial Position

At the end of the second quarter 2021, Kirkland Lake Gold had cash and cash equivalents of $858.4 million compared with $792.2 million as of Mar 31, 2021.

Net cash provided by operating activities increased 49% year over year to $330.6 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 for 2021. Operating cash costs per ounce sold is projected in the range of $450-$475.

Price Performance

Shares of Kirkland Lake Gold have declined 20.9% in the past year against 22.3% fall of the industry.

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Zacks Investment Research


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Zacks Rank & Key Picks

Kirkland Lake Gold currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are Nucor Corporation NUE, Dow Inc. DOW and Cabot Corporation CBT.

Nucor has a projected earnings growth rate of around 444.9% for the current year. The company’s shares have surged 137.3% 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.

Dow has an expected earnings growth rate of around 403.01% for the current year. The company’s shares have gained 48.2% in the past year. It currently carries a Zacks Rank #2.

Cabot has an expected earnings growth rate of around 137.5% for the current fiscal. The company’s shares have surged 44.9% in the past year. It currently holds a Zacks Rank #2.


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Nucor Corporation (NUE) : Free Stock Analysis Report

Dow Inc. (DOW) : Free Stock Analysis Report

Cabot Corporation (CBT) : Free Stock Analysis Report

Kirkland Lake Gold Ltd. (KL) : Free Stock Analysis Report

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