We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Solid Production to Aid Kirkland Lake Gold (KL) Q2 Earnings?
Read MoreHide Full Article
Kirkland Lake Gold Ltd. is set to release second-quarter 2019 results on Jul 30, after the closing bell.
The stock has surged 105.8% in the past year compared with the industry’s 35.3% rise.
Factors at Play in Q2
The company, earlier this month, released gold production figures for the second quarter of 2019.
Consolidated gold production totaled 214,593 ounces in the to-be-reported quarter, up 30.3% year over year. Consolidated gold sales rose 29.1% year over year to 212,091 ounces.
The company witnessed record quarterly production at Fosterville. Gold production at Fosterville surged 82% year over year to 140,701 ounces.
Notably, gold production at Macassa declined 18.8% year over year to 49,196 ounces. Also, production at Holt Complex fell 7.3% year over year to 24,696 ounces.
The Zacks Consensus Estimate for second-quarter total revenues for Kirkland Lake Gold is currently pegged at $274 million, which indicates an increase of 27.4% from the year-ago quarter’s reported figure.
What the Zacks Model Says
Our proven model does not show that Kirkland Lake Gold is likely to beat estimates in the to-be-reported quarter. That is because a stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. That is not the case here, as you will see below:
Earnings ESP: Earnings ESP for Kirkland Lake Gold is 0.00%. The Most Accurate Estimate and the Zacks Consensus Estimate are both currently pegged at 49 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Note that we caution against stocks with a Zacks Rank #4 (Sell) or #5 (Strong Sell) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Here are some companies in the basic materials space you may want to consider as our model shows that they have the right combination of elements to post earnings beat this quarter:
Barrick Gold Corporation (GOLD - Free Report) has an Earnings ESP of +0.70% and carries a Zacks Rank #2.
Carpenter Technology Corporation (CRS - Free Report) has an Earnings ESP of +0.27% and carries a Zacks Rank #3.
Covia Holdings Corporation (CVIA - Free Report) has an Earnings ESP of +20.00% and a Zacks Rank #3.
Radical New Technology Creates $12.3 Trillion Opportunity
Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.
Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profits.
Image: Bigstock
Solid Production to Aid Kirkland Lake Gold (KL) Q2 Earnings?
Kirkland Lake Gold Ltd. is set to release second-quarter 2019 results on Jul 30, after the closing bell.
The stock has surged 105.8% in the past year compared with the industry’s 35.3% rise.
Factors at Play in Q2
The company, earlier this month, released gold production figures for the second quarter of 2019.
Consolidated gold production totaled 214,593 ounces in the to-be-reported quarter, up 30.3% year over year. Consolidated gold sales rose 29.1% year over year to 212,091 ounces.
The company witnessed record quarterly production at Fosterville. Gold production at Fosterville surged 82% year over year to 140,701 ounces.
Notably, gold production at Macassa declined 18.8% year over year to 49,196 ounces. Also, production at Holt Complex fell 7.3% year over year to 24,696 ounces.
The Zacks Consensus Estimate for second-quarter total revenues for Kirkland Lake Gold is currently pegged at $274 million, which indicates an increase of 27.4% from the year-ago quarter’s reported figure.
What the Zacks Model Says
Our proven model does not show that Kirkland Lake Gold is likely to beat estimates in the to-be-reported quarter. That is because a stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. That is not the case here, as you will see below:
Earnings ESP: Earnings ESP for Kirkland Lake Gold is 0.00%. The Most Accurate Estimate and the Zacks Consensus Estimate are both currently pegged at 49 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Kirkland Lake Gold sports a Zacks Rank #1, which when combined with a 0.00% ESP makes surprise prediction difficult. You can see the complete list of today’s Zacks #1 Rank stocks here.
Note that we caution against stocks with a Zacks Rank #4 (Sell) or #5 (Strong Sell) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Kirkland Lake Gold Ltd. Price and EPS Surprise
Kirkland Lake Gold Ltd. price-eps-surprise | Kirkland Lake Gold Ltd. Quote
Stocks Poised to Beat Estimates
Here are some companies in the basic materials space you may want to consider as our model shows that they have the right combination of elements to post earnings beat this quarter:
Barrick Gold Corporation (GOLD - Free Report) has an Earnings ESP of +0.70% and carries a Zacks Rank #2.
Carpenter Technology Corporation (CRS - Free Report) has an Earnings ESP of +0.27% and carries a Zacks Rank #3.
Covia Holdings Corporation (CVIA - Free Report) has an Earnings ESP of +20.00% and a Zacks Rank #3.
Radical New Technology Creates $12.3 Trillion Opportunity
Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.
Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profits.
See the 7 breakthrough stocks now>>