Opinions
Dennis da Silva
Kirkland Lake Gold
KL-T
BUY
Jul 06, 2021
$49.320
Stock price when the opinion was issued
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PAST TOP PICK
(A Top Pick Sep 11/20, Down 25%) Has extremely high amounts of gold in Australia. They bought Detour Gold in Canada which added lots of inventory. Price target of $80. Gold has come off its highs.
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PAST TOP PICK
(A Top Pick Feb 24/21, Up 29.1%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with KL is progressing well and has achieved its $56 objective. To remain disciplined, we recommend covering half the position and trailing up the stop (from $32) to $44 -- just above the initial recommended entry level.
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TOP PICK
Merging with AEM. A clean story. His play to be in the gold space but with a very specific choice. Detour Mine is a big asset they can grow around. EMs care more about gold than the developed world. When the world starts growing again, money will come back to the sector and this will be good for gold stocks. Good hedge to geopolitical risk. Yield is 1.93%. (Analysts’ price target is $63.24)
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PAST TOP PICK
(A Top Pick Feb 25/21, Up 15.3%)Stockchase Research Editor: Michael O’Reilly With the recent completed acquisition by AEM now official, we now consider this position closed. When combined with the previous recommendation to cover half the position, this results in a net investment gain of 22%.
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A core intermediate gold producer. They own the largest Canadian gold mine and have a reputation for running high-grade mines like Fosterville in Australia. Their Detour acquisition was meant to stabilize their production base. He believes in management. It's about generating strong free cash flow to fund their new shaft, the Macassa Mine, which is on schedule and offsetting production loss from Fosterville through 2023. KL produces 1.4 million ounces per year. It has a solid balance sheet, but is getting over near-term issues from owning the largest Canadian mine. His go-to company in gold.