Kirkland Lake Gold Climbs Pre-Market As Q4 EPS Tops Forecasts

Kirkland Lake Gold Inc.

KGI is an operating and exploration gold Company in Kirkland Lake, Ontario which is located in the Lower Abitibi Greenstone belt in northeastern Ontario.

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Kirkland Lake Gold Climbs Pre-Market As Q4 EPS Tops Forecasts

posted on Feb 20, 2020 08:02AM

2020-02-20 07:07:23 AM ET (MT Newswires)

07:07 AM EST, 02/20/2020 (MT Newswires) -- Kirkland Lake Gold (KL) was up more than 4% premarket Thursday after the miner reported record adjusted earnings of $0.88 per share in Q4, climbing from $0.50 a year ago and beating the $0.85 average estimate from analysts polled by Capital IQ.

Revenue surged to $412.4 million from $280.3 million in Q4 2018 but still missed the $546.7 million analysts' consensus. The company attributed the period's revenue growth to increased gold sales volumes and higher average realized price.

Kirkland Lake Gold also said it is doubling its quarterly dividend to about $0.13 per share, effective from Q2 this year, and pledged to buy back 20 million common shares over the next 12 months to 14 months.

Price: 39.10, Change: +1.67, Percent Change: +4.46

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