Kirkland Lake Gold Declares US$667 Million In Revenue For Q3 2021

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.

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.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

Giant Mining Encounters Native Copper As Hole MHB-34 Hits 563 Metres Depth

Verses Hits Commercialization Stage With Genius AI Platform

Related News

B2Gold Records Q2 2021 Gold Revenue Of US$363.0 Million

B2Gold Corp. (TSX: BTO) announced Wednesday its quarterly financial performance for Q2 2021, highlighting gold...

Thursday, August 5, 2021, 10:44:00 AM

More De-Dollarization? Ghana Unveils Plan to Purchase Crude With Gold Rather Than US Dollars

The list of countries shunning the US dollar is increasing. Ghana, a developing country located...

Friday, November 25, 2022, 12:23:00 PM

Lundin Gold Exceeds 2021 Production Guidance With 428,514 Ounces

Lundin Gold Inc. (TSX: LUG) announced on Monday the production results for Q4 2021 and...

Tuesday, January 11, 2022, 10:17:00 AM

Prime Meridian Resources Stakes Additional Property In Red Lake Region

Prime Meridian Resources (TSXV: PMR) is increasing its portfolio of claims in the Red Lake...

Wednesday, September 22, 2021, 09:01:15 AM

K92 Mining Produces 18,654 Gold Equivalent Ounces In Q1 2021

K92 Mining (TSX: KNT) released production results for its flagship Kainantu Gold Mine in Papua...

Friday, April 16, 2021, 07:46:06 AM