Momentum Stock Watch: Kirkland Lake Gold Ltd (KL)

Company Profile:

Kirkland Lake Gold Ltd. engages in the acquisition, exploration, development, and operation of gold properties. The company’s principal properties include the Fosterville Mine located in the State of Victoria, Australia; and Macassa Mine situated in the Municipality of Kirkland Lake, Ontario, Canada. It has a strategic alliance agreement with Newmont Corporation to assess regional exploration opportunities around Newmont’s Timmins properties and the company’s Holt Complex in Ontario, Canada. The company was formerly known as Newmarket Gold Inc. and changed its name to Kirkland Lake Gold Ltd. in December 2016. Kirkland Lake Gold Ltd. is headquartered in Toronto, Canada.

Recent News:

On Sept. 18, 2020 , the company announced that a quarterly dividend payment of US$0.125 per common share will be paid on October 14, 2020 to shareholders of record as of the close of business on September 30, 2020. The payment represents the 14th quarterly dividend payment made to shareholders following the Company’s adoption of a dividend policy in March 2017.

KL has moved about 10.98% on a year-to-date basis. stocks in the Basic Materials group have lost about 0.20% on average. The Zacks Consensus Estimate for KL’s full-year earnings has moved 9.91% higher within the past quarter.

 

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

KL’s strengths can be seen in its strong growth and robust profitability compared with its peers. Its revunue and net income have increased over recent years. Technical indicators signal the bullish signs, as there is a bullish crossover in MACD and Stochastic oscillator. The RSI stands at 54.97 with positive bias. We rate Kirkland Lake Gold Ltd (KL) a STRONG BUY.

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