Long Position on KL @ $54.25 on 9/10/2020 (Fundamentals)

Kirkland Lake Gold Ltd. (KL) 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.

Kirkland Lake Gold Ltd. reported 2nd Quarter June 2020 earnings of $0.79 per share on revenue of $581.0 million. The consensus earnings estimate was $0.74 per share on revenue of $496.4 million. Revenue grew 106.6% on a year-over-year basis.

This stock has recently rebounded from its 50-day moving average and should move higher out of its "double bottom formation".

Entry Point: $54.25

Stop Loss: $51.50

Trading Range: $18.02 to $57.69

Target Price: $59.65

Updates

12/30/2020 1:02:22 PM

KL closed at $42

Position closed on 12/30/2020 at price of $42.00 with a -22.58% loss in 111 days.

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