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Kirkland Lake Gold's (KL) Q4 Earnings and Sales Lag Estimates
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Kirkland Lake Gold Ltd. reported net earnings of $232.6 million or 85 cents per share in fourth-quarter 2020 compared with $169.1 million or 80 cents in the year-ago quarter.
Barring one-time items, adjusted earnings per share were 98 cents that missed the Zacks Consensus Estimate of $1.02.
The company recorded revenues of $691.5 million, up 67.7% year over year. However, the top line lagged the Zacks Consensus Estimate of $696 million.
Kirkland Lake Gold Ltd. Price, Consensus and EPS Surprise
Total gold production was 369,434 ounces in the fourth quarter, up 32% year over year. Average realized price of gold was $1,875 per ounce, up 27% year over year.
Operating cash costs per ounce for gold rose 55.3% year over year to $396. All-in sustaining costs (AISC) for gold increased 54.3% year over year to $790 per ounce in the quarter.
FY20 Results
Earnings (as reported) for full-year 2020 were $2.91 per share compared with $2.65 per share a year ago. Net sales surged 78.3% year over year to $2,460.1 million.
Financial Position
At the end of 2020, Kirkland Lake Gold had cash and cash equivalents of $847.6 million, up 20% year over year.
Net cash provided by operating activities surged 70.3% year over year to $420.9 million in the quarter.
Guidance
For 2021, the company expects total gold production between 1,300,000 ounces and 1,400,000 ounces. AISC for gold is expected between $790 and 810 per ounce in 2021. Operating cash costs per ounce for gold is projected in the range of $450-$475.
Price Performance
The stock has gained 2.3% in the past year compared with 11.2% rise of the industry.
Zacks Rank & Key Picks
Kirkland Lake Gold currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Fortescue Metals Group Limited (FSUGY - Free Report) , BHP Group (BHP - Free Report) and Impala Platinum Holdings Limited (IMPUY - Free Report) .
Fortescue has a projected earnings growth rate of 95.4% for the current fiscal. The company’s shares have surged around 181.7% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BHP has an expected earnings growth rate of 68.7% for the current fiscal. The company’s shares have gained around 73.8% in the past year. It currently sports a Zacks Rank #1.
Impala has an expected earnings growth rate of 195.9% for the current fiscal. The company’s shares have rallied around 84.2% in the past year. It currently sports a Zacks Rank #1.
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Kirkland Lake Gold's (KL) Q4 Earnings and Sales Lag Estimates
Kirkland Lake Gold Ltd. reported net earnings of $232.6 million or 85 cents per share in fourth-quarter 2020 compared with $169.1 million or 80 cents in the year-ago quarter.
Barring one-time items, adjusted earnings per share were 98 cents that missed the Zacks Consensus Estimate of $1.02.
The company recorded revenues of $691.5 million, up 67.7% year over year. However, the top line lagged the Zacks Consensus Estimate of $696 million.
Kirkland Lake Gold Ltd. Price, Consensus and EPS Surprise
Kirkland Lake Gold Ltd. price-consensus-eps-surprise-chart | Kirkland Lake Gold Ltd. Quote
Operational Highlights
Total gold production was 369,434 ounces in the fourth quarter, up 32% year over year. Average realized price of gold was $1,875 per ounce, up 27% year over year.
Operating cash costs per ounce for gold rose 55.3% year over year to $396. All-in sustaining costs (AISC) for gold increased 54.3% year over year to $790 per ounce in the quarter.
FY20 Results
Earnings (as reported) for full-year 2020 were $2.91 per share compared with $2.65 per share a year ago. Net sales surged 78.3% year over year to $2,460.1 million.
Financial Position
At the end of 2020, Kirkland Lake Gold had cash and cash equivalents of $847.6 million, up 20% year over year.
Net cash provided by operating activities surged 70.3% year over year to $420.9 million in the quarter.
Guidance
For 2021, the company expects total gold production between 1,300,000 ounces and 1,400,000 ounces. AISC for gold is expected between $790 and 810 per ounce in 2021. Operating cash costs per ounce for gold is projected in the range of $450-$475.
Price Performance
The stock has gained 2.3% in the past year compared with 11.2% rise of the industry.
Zacks Rank & Key Picks
Kirkland Lake Gold currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Fortescue Metals Group Limited (FSUGY - Free Report) , BHP Group (BHP - Free Report) and Impala Platinum Holdings Limited (IMPUY - Free Report) .
Fortescue has a projected earnings growth rate of 95.4% for the current fiscal. The company’s shares have surged around 181.7% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BHP has an expected earnings growth rate of 68.7% for the current fiscal. The company’s shares have gained around 73.8% in the past year. It currently sports a Zacks Rank #1.
Impala has an expected earnings growth rate of 195.9% for the current fiscal. The company’s shares have rallied around 84.2% in the past year. It currently sports a Zacks Rank #1.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.9% per year.
These 7 were selected because of their superior potential for immediate breakout.
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