Kirkland Lake Gold Ltd. (TSX: KL) reported today its financial and operational results for Q3 2021, which highlighted revenue of US$667.0 million. This is a marginal increase from last quarter’s US$662.7 million and last year’s US$632.8 million.
The company attributes the revenue growth to higher gold sales, which was partially offset by reduction related to rate factors reflecting a lower average realized gold price.
Corollary, the US$254.9 million net earnings for the quarter is an increase from last quarter’s US$244.2 million and last year’s US$202.0 million. The net earnings for the quarter yielded US$0.96 in earnings per share.
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The mining firm also ended the quarter with a cash balance of US$822.4 million. The company also generated a higher free cash flow balance of US$141.8 million, compared to last quarter’s $131.2 million but lower than last year’s US$275.7 million.
For the first nine months of 2021, Kirkland Lake produced 1,052,144 gold ounces and has relayed that it is on track with the full-year gold production guidance of 1.3 – 1.4 million ounces.
Kirkland Lake Gold Ltd. last traded at $51.56 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
