KL - Why This Top Gold Stock Slumped 10.2% in November
Shares of Kirkland Lake Gold (NYSE: KL) slipped 10.2% in the month of November, according to data provided by S&P Global Market Intelligence .
While the gold stock kicked off the month on a positive note, it started to fall right after Kirkland released its third-quarter numbers on Nov. 5. The slump in gold price soon after put further pressure on Kirkland shares.
Kirkland's shares fell despite the company delivering strong third-quarter numbers. There could be two reasons: its earnings lagged analysts' estimates, and its costs reflected what investors feared. Before I explain that, here are the positive highlights from the quarter (all numbers year over year).
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Why This Top Gold Stock Slumped 10.2% in November