Should i still hold? ...im new
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fatjohn AlexAlex88
@AlexAlex88, I'm still holding. Recent pullback was too heavy imo. KL has so far never underperformed its targets btw and it has a target of 950k to 1M ounces for the year. In the first half they mined 446k so in the second half they should mine at least 504-554k to make that target.
For Q1 and Q2 the moving averages were about 42.5 and 47 CAD, meanwhile the gold price was about 1310 dollars compared to 1500 right now.
So in the second half, they'll likely mine about 15% more gold and will earn about 190 dollars more per ounce.
So the half year profit of H2 will be around 172-247 Million USD higher than in H1.
This is an 80-115% increase in profit. I share price would follow such an 80% rise, we'll see an average share price of over 80-96 CAD in the final or first quarter of the year.
Kirkland is pretty cheap today in my opinion.
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AlexAlex88 fatjohn
@fatjohn, Thanks John, I'm pretty new to the Gold mining business and I bought KL pretty high price.($67).. (almost at the pike) was hoping it will meet the $70 target price!!
Thanks again
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Still ok?
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