KL - Kirkland Lake Gold: A Premier Buy-The-Dip Candidate
- Kirkland Lake Gold released its Q2 results in late July, reporting 14% revenue growth and 16% growth in quarterly earnings per share despite gold price softness and CDN Dollar strength.
- This strong performance was driven by an industry-leading cost profile, with all-in sustaining costs of $780/oz, and 15% production growth year-over-year.
- While annual EPS will decline by 1-2% year-over-year if gold price weakness continues, focusing on this misses the big picture, which is material annual EPS growth looking out to FY2023/FY2024.
- Given Kirkland Lake's strong execution and ability to continue to under-promise and over-deliver, I see the stock as a premier buy-the-dip candidate.
For further details see:
Kirkland Lake Gold: A Premier Buy-The-Dip Candidate