Topic: How To Invest

Q: Pat, I added a few different gold stocks to my portfolio mostly back in the early part of January and mostly ones you recommended. Separate from that, I added some shares of Kirkland Lake Gold to the mix. What do you think about Kirkland Lake? Thanks.

Article Excerpt

A: Kirkland Lake Gold, $64.62, symbol KL on Toronto (Shares outstanding: 275.9 million; Market cap: $18.9 billion; www.klgold.com), is a gold producer based in Toronto, Canada. It owns and operates four underground gold mines: the Macassa, Holt, and Taylor mines in Canada and the Fosterville mine in Australia. Kirkland Lake Gold also owns exploration properties and non-operating mines in both countries. In addition, it recently added to its Canadian holdings with the purchase of open-pit mine Detour Lake. It paid $4.4 billion (Cdn.) for the property. In the quarter ended June 30, 2020, the company produced a total of 329,770 ounces of gold. That’s up 53.6% from 214,593 ounces a year earlier. Detour Lake drove that gain. Revenue in the quarter rose 106.5%, to $581.0 million from $281.3 million. (All figures except share price and market cap in U.S. dollars.) Earnings gained 99.7%, to $219.3 million from $109.8 million. Earnings per share rose 51.9%, to $0.79 from $0.52, on more shares outstanding from…

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