Common Stock Warrants

Source: Streetwise Reports 11/23/2019 The financial results are reviewed in a ROTH Capital Partners report. In a Nov. 6 research note, ROTH Capital Partners analyst Jake Sekelsky reported that Kirkland Lake Gold Inc. (KL:TSX; KL:NYSE) in Q3/19 “beat our estimates on both the top and bottom line, and Macassa and Fosterville continue to drive strong cash flow generation.” Sekelsky relayed that Kirkland Lake, reported in Q3/19, a “strong quarter,” an adjusted net earnings of $0.84 per share on revenue of $381.4 million, which exceeded ROTH’s projection of $0.74 earnings on revenue of $371.2 million. He added that “while the company beat our earnings estimate, we attribute the majority of this to increased capitalization of exploration expenditures.” Costs were roughly consistent with estimates at the Fosterville and Macassa mines, Sekelsky pointed out, but higher than expected at the Holt complex. As such, Kirkland Lake is considering longer term options there. The gold company ended Q3/19 with $615.7 million in cash and no debt. “[We] believe the company’s strong cash balance and currency places Kirkland Lake in a strong position to pursue both organic and inorganic growth opportunities heading into 2020,” commented Sekelsky. The company increased its quarterly dividend by 50% to $0.06 per share. Test processing in progress at the Union Reefs mill indicates Kirkland Lake is advancing its Northern Territory assets. Further, ROTH expects a positive production decision in 2020. Kirkland Lake is expected to release exploration results from Fosterville by year-end 2019, Sekelsky noted. ROTH believes the market has … Continue reading →