It's been a tough 13-month stretch for the Gold Miners Index (GDX), with the ETF down more than 30%, and many producers sliding as much as 50%. Kirkland Lake Gold (KL) has been a rare sanctuary during the carnage
Kirkland Lake Gold: Gearing Up For Significant Growth At Macassa
Summary
- Kirkland Lake Gold is one of the best-performing gold stocks this year, up 3% year-to-date vs. a double-digit decline in the Gold Miners Index.
- While all eyes continue to be on the company's previous breadwinner, Fosterville, Macassa is one of the most impressive mines globally, not getting nearly enough attention relative to Fosterville.
- This is especially true, given that we're nearing the final stretch for completion of the #4 Shaft Project, set to take the governor off the operation, and no longer mine-constrained.
- Given Kirkland Lake's position as the lowest-cost senior producer in the sector with meaningful growth at two of three assets, I continue to see the stock as a Buy on weakness.
Taylor Dart is an individual investor with over 16 years of trading experience, with his primary focus being precious metals developers, producers and royalty/streaming companies.
Taylor leads the investing group Alluvial Gold Research, where he offers portfolios with entry/exit points, Buy/Sell alerts, and proprietary sentiment indicators for gold and silver miners. Learn more.
- Disclosure: I am not a financial advisor. All articles are my opinion - they are not suggestions to buy or sell any securities. Perform your own due diligence and consult a financial professional before trading or investing.
Analyst’s Disclosure:I/we have a beneficial long position in the shares of GLD, KL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Disclaimer: Taylor Dart is not a Registered Investment Advisor or Financial Planner. This writing is for informational purposes only. It does not constitute an offer to sell, a solicitation to buy, or a recommendation regarding any securities transaction. The information contained in this writing should not be construed as financial or investment advice on any subject matter. Taylor Dart expressly disclaims all liability in respect to actions taken based on any or all of the information on this writing.
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