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    KL   CA49741E1007

KIRKLAND LAKE GOLD LTD.

(KL)
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Kirkland Lake Gold : Strong Canadian Dollar Increased Expenses in 2Q -- Currency Comment

07/29/2021 | 09:49am EDT

By Adriano Marchese

Kirkland Lake Gold Ltd.'s exposure to U.S. and Australian dollars as the Canadian dollar strengthened increased the company's expenses. Here's what the gold producer had to say:

On FX trends:

"After weakening sharply against the U.S. dollar in the first quarter of 2020, concurrent with the emergence of the Covid-19 pandemic, the Canadian and Australian dollars began strengthening against the U.S. dollar starting in the second quarter of 2020 with this trend continuing through the remainder of 2020 and into the second quarter of 2021."

On FX ratios:

"The average exchange rates for the second quarter of 2021 included Canadian dollar to U.S. dollar of 1.23 and Australian dollar to U.S. dollar of 1.30.

"These exchange rates compared to 1.39 and 1.52, respectively, in the second quarter of 2020 and 1.27 and 1.29, respectively, in the first quarter 2021."

FX impact on expenses in 2Q:

"Compared to the second quarter of 2020, changes in exchange rates in the second quarter of 2021 resulted in an increase in operating cash costs of approximately $15 million, operating cash costs per ounce sold of $45, and AISC per ounce sold of $70, sustaining capital expenditures of approximately $8 million and growth capital expenditures of approximately $8 million."

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

07-29-21 0948ET

Stocks mentioned in the article
ChangeLast1st jan.
GOLD -0.07% 1773.53 Delayed Quote.-7.03%
KIRKLAND LAKE GOLD LTD. 1.05% 54.43 Delayed Quote.1.41%
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Analyst Recommendations on KIRKLAND LAKE GOLD LTD.
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Financials
Sales 2021 3 146 M 2 458 M 2 458 M
Net income 2021 1 093 M 854 M 854 M
Net cash 2021 1 399 M 1 093 M 1 093 M
P/E ratio 2021 13,2x
Yield 2021 1,77%
Capitalization 14 267 M 11 134 M 11 147 M
EV / Sales 2021 4,09x
EV / Sales 2022 3,73x
Nbr of Employees -
Free-Float 95,9%
Chart KIRKLAND LAKE GOLD LTD.
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Kirkland Lake Gold Ltd. Technical Analysis Chart | KL | CA49741E1007 | MarketScreener
Technical analysis trends KIRKLAND LAKE GOLD LTD.
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 53,90 CAD
Average target price 68,34 CAD
Spread / Average Target 26,8%
EPS Revisions
Managers and Directors
Anthony P. Makuch President, Chief Executive Officer & Director
David Soares Chief Financial Officer
Jeffrey Scott Parr Independent Chairman
Natasha Vaz Chief Operating Officer
Arnold Klassen Independent Director
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