Kirkland Lake Gold Stock Tumbles on Weak Quarterly Results

The Financial Post reported that Kirkland Lake’s stock took a nosedive on Thursday, on the heels of poor quarterly results and a production forecast cut.

As quoted in the market report:

In the quarter ended Oct. 31st, Kirkland Lake produced 20,358 ounces of gold from its Macassa mine at cash costs of US1,253 an ounce. By comparison, Desjardins Securities analyst Adam Melnyk expected 24,000 ounces at US$988 an ounce. The company recorded a net loss of US$0.01 a share, while he anticipated a profit of US$0.07.

To view the whole Financial Post report, click here.