Kirkland Lake Gold Ltd. [NYSE: KL] closed the trading session at $39.03 on 12/14/20. The day’s price range saw the stock hit a low of $38.96, while the highest price level was $41.4615. The company report on December 11, 2020 that Kirkland Lake Gold Positioned for Strong Operating and Financial Results in 2021, Company Provides Three-Year Production Guidance.
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) announced the Company’s full-year guidance for 20211, including production of 1,300,000 – 1,400,000 ounces, driven by strong growth at Detour Lake Mine, with all-in sustaining costs (“AISC”) per ounce sold2 on track to remain unchanged from 2020 levels. Guidance for 2021 includes increased capital spending largely in support of future production growth at Detour Lake, and a greater commitment to exploration to follow up on recent drilling success at all three of the Company’s cornerstone assets. All dollar amounts are expressed in U.S. dollars unless otherwise noted.
The Company also announced three-year production guidance which demonstrates the sustainability of solid operating performance and includes growth to 1,405,000 – 1,545,000 ounces in 2023. During this period, the Company will continue to work towards achieving a number of significant, and potentially transformational, milestones. Among these milestones is completing the current $50 million dollar drilling program at Detour Lake and releasing a new mine plan in 2022. Drilling to date at Detour Lake provides increasing evidence that the Main, West and North pit locations involve one large, continuous deposit that can support the transition to a “super pit” concept and can lead to substantially higher levels of production. At Macassa, the #4 shaft project is continuing and remains on track for completion in late 2022, when production is expected to increase to 400,000 ounces at improved unit costs in 2023. In Australia, the Company is planning its largest exploration program at Fosterville since acquiring the mine in 2016, including $85 – $95 million of drilling and development. The primary objective of the program is to identify additional high-grades zones to provide future high-grade production. The 2021 exploration plan will largely follow up on existing drill results that included the intersection of quartz with visible gold, found in large concentrations and at exceptional grades in the Swan Zone, in multiple other locations.
The stocks have a year to date performance of -11.44 percent and weekly performance of -6.51 percent. The stock has been moved at 4.69 percent over the last six months. The stock has performed -13.50 percent around the most recent 30 days and changed -27.78 percent over the most recent 3-months.
If compared to the average trading volume of 1.68M shares, KL reached to a volume of 3418783 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Kirkland Lake Gold Ltd. [KL]:
National Bank Financial have made an estimate for Kirkland Lake Gold Ltd. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 07, 2020. The new note on the price target was released on June 11, 2020, representing the official price target for Kirkland Lake Gold Ltd. stock.
The Average True Range (ATR) for Kirkland Lake Gold Ltd. is set at 1.57, with the Price to Sales ratio for KL stock in the period of the last 12 months amounting to 4.89. The Price to Book ratio for the last quarter was 2.16.
KL stock trade performance evaluation
Kirkland Lake Gold Ltd. [KL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.51. With this latest performance, KL shares dropped by -13.50% in over the last four-week period, additionally plugging by 4.69% over the last 6 months – not to mention a drop of -8.91% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KL stock in for the last two-week period is set at 32.47, with the RSI for the last a single of trading hit 31.23, and the three-weeks RSI is set at 36.28 for Kirkland Lake Gold Ltd. [KL]. The present Moving Average for the last 50 days of trading for this stock 44.84, while it was recorded at 40.71 for the last single week of trading, and 43.06 for the last 200 days.
Kirkland Lake Gold Ltd. [KL]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Kirkland Lake Gold Ltd. [KL] shares currently have an operating margin of +58.89 and a Gross Margin at +62.27. Kirkland Lake Gold Ltd.’s Net Margin is presently recorded at +40.59.
Return on Total Capital for KL is now 52.21, given the latest momentum, and Return on Invested Capital for the company is 36.24. Return on Equity for this stock inclined to 36.42, with Return on Assets sitting at 26.30. When it comes to the capital structure of this company, Kirkland Lake Gold Ltd. [KL] has a Total Debt to Total Equity ratio set at 0.84. Additionally, KL Total Debt to Total Capital is recorded at 0.84, with Total Debt to Total Assets ending up at 0.60. Long-Term Debt to Equity for the company is recorded at 0.28, with the Long-Term Debt to Total Capital now at 0.28.
Reflecting on the efficiency of the workforce at the company, Kirkland Lake Gold Ltd. [KL] managed to generate an average of $287,715 per employee. Receivables Turnover for the company is 54.97 with a Total Asset Turnover recorded at a value of 0.65.
Kirkland Lake Gold Ltd. [KL]: Insider Ownership positions
There are presently around $5,467 million, or 66.27% of KL stock, in the hands of institutional investors. The top three institutional holders of KL stocks are: VAN ECK ASSOCIATES CORP with ownership of 19,340,679, which is approximately 0.375% of the company’s market cap and around 3.94% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 11,285,212 shares of the stock with an approximate value of $440.46 million in KL stocks shares; and ROYAL BANK OF CANADA, currently with $385.48 million in KL stock with ownership of nearly -0.226% of the company’s market capitalization.
Positions in Kirkland Lake Gold Ltd. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 172 institutional holders increased their position in Kirkland Lake Gold Ltd. [NYSE:KL] by around 12,036,452 shares. Additionally, 146 investors decreased positions by around 13,739,465 shares, while 39 investors held positions by with 114,291,950 shares. The mentioned changes placed institutional holdings at 140,067,867 shares, according to the latest SEC report filing. KL stock had 53 new institutional investments in for a total of 5,048,809 shares, while 35 institutional investors sold positions of 1,436,722 shares during the same period.