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KL - Gold Miners Earnings Season: A Decent Start To Q4
Kirkland Lake Gold Ltd.
We're now more than halfway through the Q4 and FY-2019 earnings season for the gold miners (GDX), and while the results aren't exceptional, they're a significant improvement from the Q3 figures. Thus far, we've seen just over half of companies that have reported beating earnings estimates, and 42% of companies beating sales estimates. In addition, the average year-over-year revenue growth is just above 27%, tracking above the gold (GLD) price rise in the same period. While there are still a few names left to report, the encouraging sign is that the